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Microeconomics
QL=L^3+8L^2+12 then find optimal level of labour employment,optimal out level,maximum out put level&labour employment at which maximum out put is produced.MPL=0
Microeconomics
Consider a demand curve for reckless driving, for which the "price of reckless driving" is interpreted as the probability of having a fatal accident. When could safer cars lead to an increase in total number of driver fatalities?
A. Always.
B. Never.
C. When the demand curve is relatively flat.
D. When the demand curve is relatively steep.
A. Always.
B. Never.
C. When the demand curve is relatively flat.
D. When the demand curve is relatively steep.
Microeconomics
This question is about the incidence of tax falling wholly on the producer. However it's mostly to do with the diagram of perfectly inelastic supply curve.
In my course book, the book stated "If the supply curve is perfectly inelastic, then the supply curve after imposition of the tax will be the same as the one before."
My question is why will the supply curve not shift and stay in the same place?
Many thanks
In my course book, the book stated "If the supply curve is perfectly inelastic, then the supply curve after imposition of the tax will be the same as the one before."
My question is why will the supply curve not shift and stay in the same place?
Many thanks
Microeconomics
Why efficiency is not sufficient to address equity issues?
Microeconomics
An individual lives in a world where there are only two goods X and Y his utility function is U=50x-0.5x^2+100y-y^2.The price of x is 4 and his income per period is 672.
Derive his demand function for y
Derive his demand function for y
Microeconomics
Hi there, I am currently doing a Microeconomics homework question (few actually) and its asking me to calculate the demand of two goods give the utility function of them. The utility function is U(x1,x2)=x1(x2^2), and the price of good x1 is $3,and price of good x2 is $1. Income is $90. Please help me out in the most simple way possible. Thank you so much!
Microeconomics
how to calculate elasticity coefficient
Microeconomics
given the following information complete the table. use the mid point formula to calculate elasticity .
price quantity demand ED characteristics TR
11 10
10 20
9 30
8 40
7 50
6 60
5 70
4 80
price quantity demand ED characteristics TR
11 10
10 20
9 30
8 40
7 50
6 60
5 70
4 80
Microeconomics
If food is on the vertical axis and housing is on the horizontal axis, a set of indifference curves that are quite steep with respect to the horizontal axis. . .
1. reflect a preference pattern that generally values housing high, relative to food
2. imply that food has a higher relative value compared to housing for the consumer
3. say nothing relating to how the consumer feels about two goods until a budget line is introduced
4.mean that the two goods are perfect substitutes
1. reflect a preference pattern that generally values housing high, relative to food
2. imply that food has a higher relative value compared to housing for the consumer
3. say nothing relating to how the consumer feels about two goods until a budget line is introduced
4.mean that the two goods are perfect substitutes
Microeconomics
draw a graph showing a subsidy placed on a good with PED higher than PES.
