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Microeconomics
Find a newspaper article that deals with a change in supply or demand for a product. Illustrate the
changes described in the article with a supply-and-demand graph
changes described in the article with a supply-and-demand graph
Microeconomics
: You graduate from college and are offered three jobs (Job A, Job B, and Job C). Assume that they are identical in all respects (duties, benefits, promotion prospects, and so on) except that the salaries differ, as shown below: Job A $150,000 Job B $120,000 Job C $100,000 First, which of the three jobs would you choose? (No, you can’t have all three!) Because you have made a choice, you have incurred an opportunity cost. What is the opportunity cost of your job choice? Comparing benefits and costs, have you made a rational choice?
Microeconomics
Price per Ice-cream (Rs.) Demand for Ice cream (Qd) Supply for Ice cream (Qs)
140 500 1500
120 750 1200
100 1000 1000
80 1250 750
60 1500 600
40 1750 300
(i) Draw the market equilibrium for Ice cream. (2 Marks)
(ii) Find out equilibrium price and quantity.
140 500 1500
120 750 1200
100 1000 1000
80 1250 750
60 1500 600
40 1750 300
(i) Draw the market equilibrium for Ice cream. (2 Marks)
(ii) Find out equilibrium price and quantity.
Microeconomics
Price per Ice-cream (Rs.) Demand for Ice cream (Qd) Supply for Ice cream (Qs)
140 500 1500
120 750 1200
100 1000 1000
80 1250 750
60 1500 600
40 1750 300
(i) Draw the market equilibrium for Ice cream. (2 Marks)
(ii) Find out equilibrium price and quantity. (0.5 Marks)
(iii) Is there surplus or shortage in the market at price Rs.40? At price Rs.120? (0.5 Marks)
140 500 1500
120 750 1200
100 1000 1000
80 1250 750
60 1500 600
40 1750 300
(i) Draw the market equilibrium for Ice cream. (2 Marks)
(ii) Find out equilibrium price and quantity. (0.5 Marks)
(iii) Is there surplus or shortage in the market at price Rs.40? At price Rs.120? (0.5 Marks)
Microeconomics
You graduate from college and are offered three jobs (Job A, Job B, and Job C). Assume that they are
identical in all respects (duties, benefits, promotion prospects, and so on) except that the salaries differ, as
shown below:
Job A $150,000
Job B $120,000
Job C $100,000
First, which of the three jobs would you choose? (No, you can’t have all three!) Because you have made a
choice, you have incurred an opportunity cost. What is the opportunity cost of your job choice?
Comparing benefits and costs, have you made a rational choice
identical in all respects (duties, benefits, promotion prospects, and so on) except that the salaries differ, as
shown below:
Job A $150,000
Job B $120,000
Job C $100,000
First, which of the three jobs would you choose? (No, you can’t have all three!) Because you have made a
choice, you have incurred an opportunity cost. What is the opportunity cost of your job choice?
Comparing benefits and costs, have you made a rational choice
Microeconomics
Suppose you want to spend a day watching a movie with your friends at the cinema and the cost of doing so is K30 (all inclusive). Suppose that you really like going to the cinema with your friends and that you will be willing to pay K60 to do so. Suppose that the best alternative of going to the movie is to work at the campus shop at Unilus to earn K70 per day. Suppose you like working at the campus shop but only if they pay you at least K30.
Opportunity Cost
i. What is the value of working at the campus shop for you?
ii. What is the cost of going for the movie?
iii. As a rational consumer, would you consider going for the movie of working at the campus shop?
Opportunity Cost
i. What is the value of working at the campus shop for you?
ii. What is the cost of going for the movie?
iii. As a rational consumer, would you consider going for the movie of working at the campus shop?
Microeconomics
Give examples of barriers to factor mobility in case of domestic trade, factor mobility in case of foreign trade and compare the degree of their effect on factor mobility.
Microeconomics
Discuss the static gains from international trade using graphical illustration of how welfare improvement are possible in two countries due to trade.
Microeconomics
What does it mean by an economic environment? How this makes foreign trade different from domestic trade?
Microeconomics
What are the economic implication of technological change and trade liberalization?
