Microeconomics

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How is positive economics different from normative economics?[br][br][b][color=#165FFA]Question ... Started by ahriuashd	1 Replies 120 Views	Jun 30, 2018 by Jbrasil
What is the law of diminishing marginal product? What causes it?[br][br][b][color=#FA1639]Question ... Started by xclash	1 Replies 66 Views	Jun 30, 2018 by otokexnaru
Why are math and graphics used in economic models?[br][br][b][color=#A83E49]Question ... Started by JGIBBSON	1 Replies 53 Views	Jun 30, 2018 by Kaytorgator
A firm's total product of labor curve is represented by the following data: 1 worker can produce 4 ... Started by nmorano1	1 Replies 52 Views	Jun 30, 2018 by BUTTHOL369
What is the difference between sunk costs and marginal costs?[br][br][b][color=#9E3EA8]Question ... Started by serike	1 Replies 76 Views	Jun 30, 2018 by Benayers
Explain why some costs are considered to be variable and some fixed. How does time enter into the ... Started by vicky	1 Replies 83 Views	Jun 30, 2018 by asware1
What is the basic assumption underlying the model of choice?[br][br][b][color=gray]Question ... Started by moongchi	3 Replies 124 Views	Jun 30, 2018 by Awesome
How short is the short-run production period?[br][br][b][color=#347235]Question ... Started by kellyjaisingh	1 Replies 105 Views	Jun 30, 2018 by djofnc
How does fairness differ from equality?[br][br][b][color=#566D7E]Question 2[/color][/b][br][br]As ... Started by student77	1 Replies 73 Views	Jun 30, 2018 by kaillie
Why is the long-run average total cost (LRATC) curve called the planning ... Started by big1devin	1 Replies 47 Views	Jun 30, 2018 by SomethingSomething
How do constraints affect our choices?[br][br][b][color=black]Question 2[/color][/b][br][br]A ... Started by Mr.Thesaxman	1 Replies 93 Views	Jun 30, 2018 by Andromeda18
Explain the cost advantage of a firm operating at constant returns to ... Started by wrbasek0	1 Replies 65 Views	Jun 30, 2018 by Silverbeard98
Why is information sometimes considered as a good?[br][br][b][color=#A83E49]Question ... Started by Zoey63294	1 Replies 80 Views	Jun 30, 2018 by shaquita
Perfect competition is characterized by a large number of buyers and sellers with identical products ... Started by mspears3	1 Replies 89 Views	Jun 30, 2018 by aadams68
Why do economists sometimes treat decision makers as boundedly ... Started by Tirant22	3 Replies 54 Views	Jun 30, 2018 by af
It is relatively easy for firms to enter and exit a perfectly competitive market. a. True b. False ... Started by renzo156	1 Replies 110 Views	Jun 30, 2018 by ong527
Even when racetrack bettors know very little about the characteristics of horses, why are their ... Started by Cooldude101	1 Replies 100 Views	Jun 30, 2018 by sarajane1989
In the long run, a perfectly competitive firm is expected to generate either an economic profit or ... Started by dmcintosh	1 Replies 80 Views	Jun 30, 2018 by Christopher
What do economists mean by rationality?[br][br][b][color=gray]Question 2[/color][/b][br][br]Which of ... Started by vHAUNG6011	1 Replies 56 Views	Jun 30, 2018 by mbcrismon
Identify and define the different types of constraints individuals face while making different ... Started by saliriagwu	1 Replies 69 Views	Jun 30, 2018 by dyrone
A perfectly competitive firm faces a perfectly elastic demand curve. a. True b. False Indicate ... Started by ssal	1 Replies 251 Views	Jun 30, 2018 by patma1981
In a two-person exchange, if the price offered to the seller is less than the opportunity cost of ... Started by ishan	1 Replies 64 Views	Jun 30, 2018 by yeungji
The closer the exchange price is to the valuation of the buyer, the greater the buyer's share of the ... Started by ereecah	3 Replies 105 Views	Jun 30, 2018 by tanna.moeller
The market demand curve in a perfectly competitive industry is horizontal, while the demand curve ... Started by nevelica	1 Replies 161 Views	Jun 30, 2018 by momtoalll
Price tags reduce transaction costs in countries where people's time is more valuable. Indicate ... Started by maychende	1 Replies 68 Views	Jun 30, 2018 by Ashley I