292 Answered Questions for the topic microeconomics



2 Firms Dominant Strategy Rebates or no rebates?

Firm 1 and 2 must decide whether to provide a 2.5% rebate during a traditional slow quarter in their industry. What are firm 1 and 2 dominant strategies based onfirm 1 no rebate A profit = 200 ... more
Microeconomics Math Economics


How many points did the​ team's defense give up in the third football​ game?

After playing two football​ games, a professional football​ team's defense had given up an average of 28 points per game. After playing a third football​ game, the​ team's defense had given up an... more


Supply And Demand of Free Parking Spots on a Beach

Using supply and demand analysis (graphs), explain why there is some days a surplus of parking spots available at the beach and other times there is a shortage of such parking spots.  Assume... more


Opportunity cost

If your tuition is $5,000 this semester, your books cost $600, you can only work 20 rather than 40 hours per week during the 15 weeks you are taking classes and you make $15 per hour, and your room... more
Microeconomics Economics


What factors lead to a downward sloping demand curve?



Utility Function

The utility function is u (x1; x2) = 5 min(x1; x2) + 2x2. Suppose that the constraints are as follows: I>= p1x1 + p2x2; x1>= 0; x2 >= 0 where I is income, p1 is the price of good 1 and... more
Microeconomics Economics


A loss is when a company revenue is less than its



Economics - Competitive Industry

What would happen in a competitive industry - at both the firm and the market level - in each of the following cases?a. Firms in the industry are able to lower their marginal -and average- costs... more
Microeconomics Economy


What are the four types of unemployment mentioned in general?

Explain unemployment. In terms of how an economy works, one thing leads to another. There are different reasons why people are unemployed; they may not even be looking for work.


Given in description

Suppose that, at the market clearing price of natural gas, the price elasticity of demand is -1.2 and the price elasticity of supply is 0.6. If, initially, the price was 10 percent below... more
Microeconomics Introduction To Business


What do inflation rates measure?

Microeconomics Economics


An economically efficient level of smoking:

a. means people would not smokeB. occurs at the market equilibriumC.would have to account for all costs but would be greater than zeroD. would have to increase to provide more jobs for farmers and... more


There is no age requirement to purchase a computer but there is one to buy tobacco and alcohol. Of the reasons for limiting a market, economists rely on which to justify this

a.These goods are immoral when consumed by the young b.These goods have external costs when consumed by the young c. Young consumers have inadequate information d.Government is necessary to... more
Microeconomics American History Economics


Which of the following gave workers a reason to form early unions

A. Dangerous working conditions B. High taxes C. Increased use of technology D. Foreign competition


find equilibrium level of income

C = 100 + .9ydT = 100I = 150G = 200Yd = Y- Y


I have a question on Microeconomics

The Law of Demand reflects the relationship between price and Quantity Demanded. That relationship is associated with an  increase in price and a subsequent increase in quantity... more


Why you shouldn’t blame consumers for Labor Conditions?

Hi, So I have a group project for my economic class and my teacher asked us to defend consumers for Labor Conditions and I really don’t have any idea how should I do this and for what reasons... more


Basic Economics help

A corporation has 1,000 shares of preferred stock and 4,000 shares of common stock. The preferred stock has a prior claim to an annual $8 dividend. If the annual profits to be distributed for the... more

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