293 Answered Questions for the topic microeconomics

01/06/20

#### Positive Externalities, Public Goods, Pigouvian Taxes and Subsidies, Game Theory and the NBA part 4

This is the fourth part of a really neat exercise which covers elements of Imperfect markets (Duopsony), game theory, public economics, positive external benefits Pigouvian taxes and... more
Microeconomics Calculus Economics Game Theory

01/06/20

#### Positive Externalities, Public Goods, Pigouvian Taxes and Subsidies, Game Theory, Duopsony, Cournot- Nash Equilbria and the NBA Part 2

This is a really neat exercise which covers elements of Imperfect markets (Duopsony), game theory, public economics, positive external benefits Pigouvian taxes and subsidies and elements... more

01/06/20

#### Positive Externalities, Public Goods, Pigouvian Taxes and Subsidies, Duopsony, Game Theory, Cournot-Nash Equilbria and NBA basketball part 3

This is the third part of a really neat exercise which covers elements of Imperfect markets (Duopsony), game theory, public economics, positive external benefits Pigouvian taxes and... more

01/06/20

#### Positive Externalities, Public Goods, Joint Consumption, Pigouvian Taxes and Subsidies And NBA Basketball Part 2

This is a really neat exercise which covers elements of Imperfect markets (Duopsony), game theory, public economics, positive external benefits Pigouvian taxes and subsidies and elements of General... more

01/06/20

#### Positive Externailities, Pigouvian Taxes and Subsidies, Public Goods with a bit of Game Theory.. Part 1

This is a really neat exercise which covers elements of Imperfect markets (Duopsony), game theory, public economics, positive external benefits Pigouvian taxes and subsidies and elements... more
Microeconomics

12/27/19

#### In a competitive market, the equilibrium price represents the ____________ ____________.

In a competitive market, the equilibrium price represents the ____________ ____________.a. social cost/valueb. social surplusc.private cost/valued.private surplus
Microeconomics

12/19/19

#### According to the First Fundamental Welfare Theorem, when a competitive market equilibrates, the values of consumer surplus and producer surplus are _______________.

According to the First Fundamental Welfare Theorem, when a competitive market equilibrates, the values of consumer surplus and producer surplus are _______________.a.... more
Microeconomics

12/16/19

#### Study guide question

In one paragraph explain how scarcity plays a role in a mixed market economy? Be sure to use scarcity, opportunity cost, trade off at least one of the four productive resources and the applicable... more
Microeconomics

12/15/19

#### True or False? The Individual-Firm Demand curve facing a perfect competitor is a normal downward sloping demand curve.

True or False?The Individual-Firm Demand curve facing a perfect competitor is a normal downward sloping demand curvea. Trueb. False
Microeconomics

12/15/19

#### True or False? Under monopolistic competition, we assume there are only a few number of firms. That is how they behave as monopolists in the short run.

True or False?Under monopolistic competition, we assume there are only a few number of firms. That is how they behave as monopolists in the short run.a. Trueb. False
Microeconomics

12/15/19

#### True or False? Product differentiation allows monopolistic competitors to be price makers.

True or False?Product differentiation allows monopolistic competitors to be price makers.a. Trueb. False
Microeconomics

12/15/19

#### True or False? Unregulated contested monopolies can be just as efficient as their perfectly competitive counterparts.

True or False?Unregulated contested monopolies can be just as efficient as their perfectly competitive counterparts. a. Trueb. False
Microeconomics

12/15/19

#### True or False? Monopolists (a single firm industry) maximize profits the exact same way as perfect competitors, by producing a quantity that equates their marginal revenue with their marginal cost.

True or False?Monopolists (a single firm industry) maximize profits the exact same way as perfect competitors, by producing a quantity that equates their marginal revenue with their marginal... more
Microeconomics

12/15/19

#### True or False? Incentives to innovate, such as patents, trademarks, and copyrights, have the additional effect of assisting firms in acquiring monopoly power.

True or False?Incentives to innovate, such as patents, trademarks, and copyrights, have the additional effect of assisting firms in acquiring monopoly power.a. Trueb. False
Microeconomics

12/15/19

#### Firms in perfectly competitive markets can reduce their prices in order to capture market share and earn greater profits in the short run. T/F

Firms in perfectly competitive markets can reduce their prices in order to capture market share and earn greater profits in the short run.a. Trueb. False
Microeconomics

12/15/19

#### What is the defining feature of an oligopolistic market?

What is the defining feature of an oligopolistic market? a. imperfect information b. homogenous goods c. only a few number of firms d. long-run profits go to zero
Microeconomics

12/12/19

#### What does the traditional “Circular Flow” diagram used to describe the market economy ignore?

What does the traditional “Circular Flow” diagram used to describe the market economy ignore?a.     Wagesb.     Productionc.     Externalities and public goodsd.     Inferior goods
Microeconomics

12/12/19

#### A Pigouvian tax is a negative externality correcting commodity tax set equal to what?

A Pigouvian tax is a negative externality correcting commodity tax set equal to what?a.     Dead weight lossb.     Tax revenue c.     Marginal external damaged.     Marginal external benefit
Microeconomics

12/12/19

#### Why are externalities considered market failures?

Why are externalities considered market failures?a.     They are economically inefficient b.     They are unethicalc.     They cause prices to not reflect the social cost of... more
Microeconomics

12/11/19

#### To otherwise competitive markets, taxes and subsidies are?

1.     To otherwise competitive markets, taxes and subsidies are?a.     Inefficientb.     Efficient c.     Never a good thingd.     Always a good thing
Microeconomics

12/10/19

#### Microeconomics: The Resource Market

A firm can sell all the units of a product it wants at a price of $4 each, and it can hire all the workers at wants for a wage of$15.In what type of market does the firm sell its product? How do... more
Microeconomics Macroeconomics

12/06/19

#### AP Microeconomics

The ___ show(s) the quantity of a good consumers would be willing and able to purchase at a given time for a range of prices while holding all other factors constant.a) demand curve and demand... more
Microeconomics

11/24/19

#### Profit Maximization for Oligopoly

2. You are the dominant firm in an oligopoly, with ten follower firms who take price as given from you. The market demand for your product is Q = 2,000 - 0.1P. Your total cost are TC = 10,000 +... more
Microeconomics

11/16/19

#### Trade and Positive Externality Question

How does becoming a small country free trade importer fix a positive domestic consumption externality? How does becoming an importer help an economy become more efficient?
Microeconomics

11/16/19

#### Monopoly Graph Question

If a firm is producing where P>ATC>MC>MR, then the firm is producing _____________ output and is making __________. A. Too much ; profitsB. Too much ; lossesC. Too little ; profitsD. Too... more

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