Microeconomics Answers

How is the Edgewroth Box diagram for exchange constructed?

Deprive monopoly demand for an input when several inputs are used in the production process?

Compare the efficiency outcome of pure perfect competition with that of one impefrctly competitive market.conclude your analysis with a comment on why government of modern mixed economics invariably enact some of legislation to promote competition

what would be an opportunity cost of growth in economy ?

A)the faster growth of services than manufacturing

B)the need for an increased level of imported raw materials

C)the need for greater government intervention

D)the reduction in consumption if growth requires investment

Identify a set of concepts in Managerial Economics that you found most interesting and useful. Show why these sets of concepts impressed you with a case study

 Other than price, identify one market signal. Show how that market signal influences decision-making, with a case study of your own choice. 

2. Suppose country B is a small export country (price taker) in the world market of lamp trade. Its domestic demand on and supply for lamp are: D＝18－P, S＝－12＋2P. The world market price of lamp is 14.

(1)  Calculate the equilibrium price and quantity of lamp in country B before trade.

(2)  Calculate B’s quantity of exported lamp under free trade.

Draw graph and calculate the net welfare effect of free trade on B’s consumers, producers and the whole country.

1. Suppose country A is a small import country (price taker) in the world market of lamp trade. Its domestic demand on and supply for lamp are: D＝18－P, S＝－12＋2P. The world market price of lamp is 8. 

(1)  Please calculate the equilibrium price and quantity of lamp in country A before trade.

(2)  Please calculate A’s quantity of imported lamp under free trade.

Please draw graph and calculate the net welfare effect of free trade on A’s consumers, producers and the whole country.