Microeconomics Answers

. If two goods are perfect substitutes, what is the demand function for good 2?

The demand for the services provided by the Tikho Marina in Novorossyisk is Q = 100 − 2P and the marginal cost of providing these services is MC = −110 + 2Q, where Q is the number of yachts in the marina. Assume that all yachts require the same services. If a two-part tariff pricing system is used,

1. what is the optimal daily entry fee for the marina?

2. how many yachts will visit the Tikho Marina ?

The per-week (inverse) demand for use of the Øresund Bridge between Denmark and Sweden is P = 13 − 0.15Q during peak traffic periods and P = 10 − 0.1Q during off-peak hours, where Q is the number of cars crossing the bridge in thousands and P is the toll in euros. If the marginal cost of using the bridge is MC = 5 + 0.2Q, what is the optimal peak load toll and off-peak load toll for crossing the bridge?

Jennifer divide he income between coffee and croissants (both Of which are normal goods) and early in Frost of Brazil causes a large increase in price of coffee in the united states?

so show the effect of the frost on jennifers budget constraints

suppose the market for almonds is in equilibrium. consumers are expecting that the price of almonds will increase in future in the market. if all other variable are held constant, what would you expect for the new price and quantity of almonds ?

) Given the following table of fish farming costs: 

Calculate the following: (i)  Fixed cost (ii) Average cost of production (iii) Variable cost per unit (iv) Marginal cost 

Output 0 1 2 3 4 5 Total cost 50 80 100 150 250 750

Why ccan’t societies make a choice above the production possibilities frontier and should bot make a choice below it

Demand is defined as

A. The demand for labour, or any other factor of production, is a “derived demand”. Using appropriate real life examples, discuss the concept of derived demand.