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Microeconomics
What are externalities
Microeconomics
a) Can you identify and explain your family’s interaction in the market for factors of production and your family’s interaction in the market for goods and services. (Word count: 200 words max.)
b) Economy can be represented by economic models. One of the models we use to understand economy is a “Circular Flow Diagram”. Sketch a Circular flow model and explain the flow of money and flow of goods and services and factors of production caused by the following activities.
i. Kaleem pays a shopkeeper Rs.150 for a liter of milk.
ii. Mustaqeem while working at a fast-food restaurant earns Rs.500 per hour.
iii. Sana spends Rs.500 on a haircut.
iv. Mustafa receives Rs.200,000 from his 10 percent ownership of Salman Chemicals Ltd.
b) Economy can be represented by economic models. One of the models we use to understand economy is a “Circular Flow Diagram”. Sketch a Circular flow model and explain the flow of money and flow of goods and services and factors of production caused by the following activities.
i. Kaleem pays a shopkeeper Rs.150 for a liter of milk.
ii. Mustaqeem while working at a fast-food restaurant earns Rs.500 per hour.
iii. Sana spends Rs.500 on a haircut.
iv. Mustafa receives Rs.200,000 from his 10 percent ownership of Salman Chemicals Ltd.
Microeconomics
In monopolistically competitive amrkets,what doest the property of free entry and exit suggest
Microeconomics
Suppose that labour and capital are imperfect complements. Illustrate consequences of fall in wage rate on producer´s optimum and account for two decisive effects
Microeconomics
what is the evidence of robbins definition of economics?
Microeconomics
hello respected madam/sir
I am unable to solve the following question:
The demand curve for good A is given by
Q = a – bPA + cPB
a) Goods A and B are complements.
b) Goods A and B are substitutes.
c) Goods A and B are unrelated in consumption.
d) The demand curve for good A is upward sloping.
why is the answer b?
and
The demand curve for good A is given by
Q = a – bPA + cPB
a) The quantity of A purchased falls and the price of A falls.
b) The quantity of A purchased increases and the price of A increases.
c) The quantity of A purchased increases and the price of A falls.
d) The quantity of A purchased increases and the price of A stays the same.
why is the answer b?
I using this website for the first time. I hope to look for a response :)
Thanks and Regards
Snehal
I am unable to solve the following question:
The demand curve for good A is given by
Q = a – bPA + cPB
a) Goods A and B are complements.
b) Goods A and B are substitutes.
c) Goods A and B are unrelated in consumption.
d) The demand curve for good A is upward sloping.
why is the answer b?
and
The demand curve for good A is given by
Q = a – bPA + cPB
a) The quantity of A purchased falls and the price of A falls.
b) The quantity of A purchased increases and the price of A increases.
c) The quantity of A purchased increases and the price of A falls.
d) The quantity of A purchased increases and the price of A stays the same.
why is the answer b?
I using this website for the first time. I hope to look for a response :)
Thanks and Regards
Snehal
Microeconomics
A firm has two companies Firm 1 and Firm 2, each with the following cost function:TC(qi)=400qi+4000 where qi is the output of an individual firm(i=1,2). The market inverse demand function is P=1000+4Q where Q=qi+q2. What output and profit would each firm produce if the two firms are proce takers acting independently?
Microeconomics
A firm has two companies Firm 1 and Firm 2, each with the following cost function:TC(qi)=400qi+4000 where qi is the output of an individual firm(i=1,2). The market inverse demand function is P=1000+4Q where Q=qi+q2. What output and profit would each firm produce if the two firms are proce takers acting independently?
Microeconomics
What is indifference curve ?
Microeconomics
A business firms sells a good at the price of Rs 450.The firm has decided to reduce the price of good to Rs 350.Consequently, the quantity demanded for the good rose from 25,000 units to 35,000 units. Calculate the price elasticity of demand.
