Microeconomics Answers

The total demand of a firms output is given by q=50-0.5p.The demand for the firms output in two markets are:q1=32-0.4p1 and q2= 18-0.1p2.
The total cost of production of the firm is given by c=50+40q.calculate
The total output that the firm must produce in order to maximise profit.
What price must be charged in each market in order to maximise profit.
How much profit would the firm earn if it sold the output as a single price and if the firm discriminate.
The price elasticity of demand for the two markets at the equilibrium price and quantity.

The demand curve function of a monopolist is given by P= 100 - 2Q. If the marginal cost is constant and is equal to 20, what is the amount of profit made?

Farmer received rupees 783000 after deducting his marketing cost of rupees 6 per quintal by selling 750 quintals of paddy. find out the total marketing cost incurred by the farmer. The wholesaler bought the farmers produce at rupees 1050 per quintal incurred Rs.48.937/ quintal sold at Rs.1140 per quintal. Find out his margin?similarly the retailer body produced from the wholesaler and incurred Rs.15.3 63 per quintal and sold to consumer at Rs.1200 per quintal now find out the margin of retailer and the producers share in consumers rupee.

1)outline the reasons for valuing the environment
2)what do You think are the key differences of direct and indirect waters of economic valuation
3)using practical examples discuss how economic valuation of natural resources and biodiversity could be applied in policy making process in sri lanka?

business competition takes what forms?

What could bring about a technological improvement in your production function and those of your fellow students?

A local gym owner knows that there are two types of customers; type 1 is serious about fitness while type 2 is the casual gym go-er. He has no fixed cost and the marginal cost of providing an extra unit of service is 1/-. He has the following information
There are N_1 customers of type 1 each with the demand curve q_1=10-2p
There are N_2 customers of type 2 each with the demand curve q_1=5-p
How does his optimal strategy depend on the relative size of N_1 and N_2 if he adopts a two-part tariff pricing?

When incomes increases demand increases why

The table below lists the number of people by labor force classification for the country of Springfield.

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Employed 78 million

Part-time employed 22 million

Unemployed 12 million

Not in the Labor Force 30 million

Discouraged 4 million

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Discouraged 4 million

(1) Calculate the number in the labor force, and the unemployment rate.

(2) Calculate the number in the adult population, and the labor force participation rate.

Describe how retail sales have been affected by the lockdown caused by the corona virus during the period from February 2020 to July 2020 and explain why the UK has experienced ‘the strongest monthly growth in business activity for five years’ during the month of June.