Microeconomics
Question #2 Consumer Demand. How to answer questions from a-g iii. I belive the MRS is 2y/x for B. But not sure
Harvey is currently a Junior Analyst at a financial firm. His annual salary is $30,000, and past experience leads him to believe that the real (inflation adjusted) value of his salary will remain at that level in the future. (Assume he is paid at the end o
When you compute cross-elasticity of demand, what are you trying to find out? What do a negative coefficient and a positive coefficient imply?
Can someone please help me in finding out the accurate answer from the following question. Boris, who functions a local landscaping company, needs each of the potential employee to lift a 200 pound tree before being hired full-time. This need is an illustration of: (1
What is that market termed in which there are just two sellers (or firms)? Answer: Duopoly terms to a market condition in which there are only two sellers.
Consumption function: The relationship among income and consumption is termed as consumption function.
I have a problem in economics on Analytic Time-The Market Period and Products Flow Model. Please help me in the following question. According to the Alfred Marshall, the period of time so short that output is fixed is: (1) Chronological run. (2) Marke
When the market price is beneath the equilibrium price then: (i) The market will clear. (ii) An excess exists. (iii) Consumers will not invest. (iv) The shortage exists. (v) Each and every consumer will be satisfied. Find out the r
The marginal utility most obviously diminished whenever: (1) Eric sang six songs rather than only one on karaoke night at local club. (2) Molly’s piano lessons absorbed 20 hrs last week she could have used up for studying. (3) Karen built 12 boxes however only 9
Of the given firms, the probably to be a price taker would be a: (i) sheep herder in a remote part of New Zealand. (ii) local gas and electric company. (iii) sculptor’s agent who contacts potential buyers through the internet. (iv) small town&rs
Pure economic profits are NOT: (w) normal costs of production. (x) reduced to “normal” levels in long-run pure competition. (y) zero in long run monopolistic competition. (z) possible under pure competition in the short-run.
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