Microeconomics Answers

describe the cost and benefits of installing solar panels in darwin.

with the help of graphs , show how these following changes are going to affect the market equilibrium . considering the shifting factors of KFC food chain supply (a) there are now better food ordering apps, with 50% less than before delivery charges. (b) news channel announces bird flu cases all over the country (c) government drives up the minimum wage scale workers employed in international food chain in country , as per new policy.

with the help of graphs show how the following changes are going to affect the market equilibrium . considering the shifting factors of gul ahmed clothing demand (a) the consumer is promoted; now earning better salary than before (b) J. clothing brand announces the 70 % off sale on their entire stock for unlimited time period. (c) a news channel announces that EID is expected to be on thursdayin coming week (d) with an increase in global connectivity , now consumers are more inclined towards western clothing

The following are the bundles that Akua can afford with her income:

Yoghurt

Bread

10

80

20

Fill the blanks in the table with the quantities that will exhaust Akua’s income.

Is elasticity of demand of 2.5 high or low?

if the fixed price of land is 1000 and firm pay 750 to each worker then calculate, Fixed cost, variable Cost, Marginal Cost, Average variable Cost (AVC), Average Fixed Cost(AFC), and Average total cost(ATC).

Now suppose that income goes up to 15oo. Illustrate how the budget constraint will change. If both goods are normal, explain where the new equilibrium will be (your answer might consist of a region of bundles, rather than just one bundle).

Consider the bundle 2 pizza and 8 coke. Label this point. What can you say about the slope of the indifference curve that passes through the point? (For example, is it bigger than, equal to, or smaller than -1?)

Draw an indifference curve associated with this bundle, and explain how its slope at the equilibrium point relates to the slope of the budget line.

Suppose that in consumer equilibrium this individual consumes 7 pizza and 6 coke. What rules must hold in consumer equilibrium? Label this bundle in your drawing (call it point “A”).