Microeconomics Answers

Purchases made now to avoid higher future prices can lead to:

Estimate the monthly cost of your education in first semester in the university keeping both the explicit and implicit cost in view?

1. Why are price floors said to be inefficient? Can the government restore efficiency by imposing a production quota along with the price floor? Who benefits and who loses from such a program? ( Max.500 words)

Find the courtnot-Nash equilibrium

Estimate the monthly cost of your education in first semester in the university keeping both the explicit and implicit costs in view. 

Estimate the monthly cost of your education in first semester in the university keeping both the explicit and implicit costs in view.

The lower the net tax rate, __________ the simple multiplier and __________ real GDP is in response to shocks to autonomous spending.

"The narrative comes before the numbers." Explain what this statement means with respect to budgeting. (2) Explain why it is important that the budget "narrative" be drafted first

Define or explain what “fiscal sustainability means. (2) What factors or elements must be considered in determining whether fiscal sustainability is being met? (3) Identify and explain at least three approaches that administrators use to reduce budgets to meet fiscal sustainability.

Suppose a company is producing q(1) phones and q(2) computers. The cost function of the company is 1000+70q(1)+80q(2). Assume that the ratio of production quantities q(1) and q(2) is 1:1. (The production ratio is the same for phones and computers.) Derive the Ray Average Cost. What is the average cost if total production (Q) is 100?