Microeconomics Answers

What would the supply curve for super markets (in a given city) look like for a

time period of (a) the next twelve hours and (b) the next five months? Explain with

relevant graph.

Suppose the relationship between the​ government's tax revenue​ (T) and national income​ (Y) is represented by the equation T=35+0.5Y. Plot this relationship on a scale​ diagram, with Y on the horizontal axis and T on the vertical axis. Interpret the equation.

The slope of the equation is ...?

​, which means that for every one additional dollar in national​ income, the​ government's tax revenue ▼increases or decreases?

by .....?

.

Undertake additional research and create a report on congestion pricing practices and peak time pricing for any Indian sector of your liking. You can state examples in your report where it has been done.

Consider the following goods and services. Which are the most likely to be produced in a perfectly competitive industry? Which are not? Explain why you made the choices you did, relating your answer to the assumptions of the model of perfect competition. Please address all of the examples below in your discussion.

1.   Coca-Cola and Pepsi

2.   Potatoes

3.   Private physicians in your local community

4.   Government bonds and corporate stocks

5.   Taxicabs in Lima, Peru—a city that does not restrict entry or the prices drivers can charge

6.   Oats

1. Suppose you currently earn $40,000 a year. You are considering a job that will increase your lifetime earnings by $400,000 but that requires an MBA. The job will mean also attending business school full time for two years at an annual cost of $50,000. You already have a bachelor’s degree, for which you spent $150,000 in tuition and books.
2. Which of the above information is relevant to your decision on whether to take the job?
3. What is the opportunity cost of going to school to study MBA?
4. Should you take the job? [Note: You will need to get the MBA]

In Joseph Heller’s iconic novel, catch 22, one of the characters was paid by the government to not grow alfalfa. According to the story’s narrator, “The more alfalfa he did not grow, the more money the government gave him, and he spent every penny he didn’t earn on new land to increase the amount of alfalfa he did not produce.”

1. Employment is a fact of life:
2. For every member of society.
3. Only for children.
4. Only for retired individuals.
5. For most college students.
6. For all college students.

What is kaldor's compensation principle ? How it is used to resolve pareto non comparability? How it is different from hick's compensation principle

Answer at least 1500 words

use a ppc to illustrate a decrease in minimum wage rate

“If the price of cell phone rises, the quantity supplied of cell phone will rise.” Is

it true or false? Explain your answer with graph.