Microeconomics Answers

What are the basic reasons for international trade with regards to factors of production?

 Explain the various factors that buoyed Canadian consumer confidence in 2012

A diagram that shows the effect on market of sunflowers caused by the cost of sunflower seeds increased

Discuss using practical example to explain how the concept of dualism

increases the liability of a business with respect to capital raised

what determines how the burden of tax is divided between buyers and sellers ? why?

When both the price of a substitute and price of the complement of commodity-x rise, then what

would be the impact on demand for x-commodity explain your answer.

Given the demand function Qx = 8000-1000Px, determine the elasticity of demand at a single 

point where price of Rs. 6 and the corresponding quantity of 2000 units. (Diagram is required)

elabrote  the term Elasticity of Supply

Elaborate the term Elasticity of Supply and explain any three factors that determines elasticity of supply

Assume that a consumer consumes two commodities X and Y and makes five combinations for the two commodities: 

Combination Units of X Units of Y

A 25 3

B 20 5

C 16 10

D 13 18

E 11 28

Calculate Marginal rate of Substitution and explain the answer