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   Related Questions in Microeconomics

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    The time and other opportunity costs incurred in obtaining information regarding products and prices and in that case driving to and from markets are illustrations of: (1) mobilization costs. (2) contracting costs. (3) transactions co

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  • Q : Differentiate perfect and monopoly

    Differentiate between perfect competition and monopoly competition?

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  • Q : Problem on law of demand Let think

    Let think about the law of demand. The idea that a big price for a normal good will outcome in less of the good being bought never based logically on the: (i) Income effect. (ii) Demand for the good falling since of the higher price. (iii) Law of redu

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  • Q : Problem on excise tax Suppose an excise

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  • Q : Average cost of producing level of

    When the hourly wage rate (w) of $15 and the hourly price of capital (r) of $75, the average cost of producing any specified level of output into the long run will be minimized where: (1) MPPL = MPPK. (2) MPPL/MPPK =

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  • Q : Greater economics loss than fixed costs

    Within the short run, there a monopolistically competitive firm will NOT operate at: (w) an economic loss that is less than fixed costs. (x) an economic loss that is greater than fixed costs. (y) making a normal profit. (z) making economic profits.

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  • Q : Calculating economic profit for first

    Assume that the banker is employed at an annual salary of $60,000. She as well has financial assets worth of $40,000 which earns $1,500 per year in interest. She too owns a commercial building that she rents out for $20,000 per year. Now assume that she quits this job

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  • Q : Charging price of profit-maximizing

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  • Q : Long-run In the long-run, an increase

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