Microeconomics Answers

When the price of one good changes, and all others stay the same:
A.
the change in relative prices is reflected in a change in the slope of the budget constraint.
B.
the change in relative prices can be thought of as a change in the opportunity costs of each good.
C.
the change in relative prices is reflected in a change in the marginal utility per dollar spent on each good.
D.
All of these statements are true.

I could not answer the question please help me.

There was a long que in front of Strand bookstore in New York City for 8 p.m. books giveaways. By noon, hundreds of Paula Hawkins fans had lined up for a chance to attend the book discussion and to get a free signed copy of her most popular books published in 2017 into the water" When Paula Hawkins gave away books, what was free and what was scarce? Explain your answer.

there was a long que in front of Strand bookstore in New York City for 8 pm books giveaways. By noon, hundreds of Paula Hawkins fans had lined up for a chance to attend the book discussion and to get a free signed copy of her most popular book published in 2017 "into the water". When Paula Hawkins gave away books, what was free and what was scarce? explain your answer

Explain the exception shapes of IC?

Perfect competition occurs in a market where there are many firms, each selling?

Tradable allowances are like quotas in that they both:
A.
limit the quantity bought and sold to the efficient level.
B.
maximize surplus.
C.
are efficient.
D.
All of these statements are true.

Imagine you've started a new pizza restaurant. It costs you about $5 to produce a pizza.

Last week you sold 500 pizzas for $10 each.

This week you raised your price and sold 150 pizzas for $16 each.

What price should you be charging? (round to the nearest penny)

Kevin has a lot of free time and he decides to pick up a new hobby. He has two options—he can take art classes or can sign up for French cooking classes. He estimates that the art classes would cost him $70, and would provide him with a benefit of $100. On the other hand, the cooking classes would cost him $120, but provide him benefits worth $160. Use cost-benefit analysis to arrive at the optimum choice for Kevin.

Hi, I was wondering what market structure the rail industry operates in?

It costs you about $3 to produce a pizza.

Last week you sold 500 pizzas for $12 each.

This week you raised your price and sold 300 pizzas for $16 each.

What price should you be charging? (round to the nearest penny)