Microeconomics

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Edgar only consumes protein shakes with his income, I. The price of shakes is p. a. What is ... Started by PhilipSeeMore	1 Replies 161 Views	Jul 1, 2018 by smrerig
Sam has preferences for weekly Video Games (V) and Sodas (S) described by the utility function ... Started by anshika	1 Replies 45 Views	Jul 1, 2018 by yotaSR5
Describe the difference between the Economic Value Added (EVA) and the Market Value Added (MVA) ... Started by penguins	1 Replies 44 Views	Jul 1, 2018 by taylorsonier
How long is the short-run time period in the economic analysis of the market? A) three months or ... Started by Melani1276	1 Replies 69 Views	Jul 1, 2018 by jharrington11
When both firms have dominant strategies A) the outcome is called a dominant strategy solution. ... Started by formula1	1 Replies 49 Views	Jul 1, 2018 by huda
Let the production function be q = ALaKb. Returns to scale are equal to A) a b. B) a + b. C) ... Started by Alainaaa8	3 Replies 115 Views	Jul 1, 2018 by ebonylittles
MC increases because A) MC naturally increases as the firm nears capacity. B) labor is paid ... Started by OSWALD	1 Replies 27 Views	Jul 1, 2018 by kalskdjl1212
Jon spends all of his income on energy drinks (E) regardless of the price and his income. Derive ... Started by lindiwe	1 Replies 32 Views	Jul 1, 2018 by Carliemb17
Which of the following best applies to the distinction between the long run and the short run? A) ... Started by Shelles	1 Replies 32 Views	Jul 1, 2018 by millet
When it comes to the supply curve of janitors and accountants, A) the supply curve of janitors is ... Started by karateprodigy	1 Replies 44 Views	Jul 1, 2018 by nothere
A consumer's reservation price is the A) amount she will pay for a hotel or airline reservation. ... Started by Caiter2013	1 Replies 88 Views	Jul 1, 2018 by cadimas
Lewis has preferences given by the Cobb-Douglas utility function U(q1,q2 ) = q1aq21-a, where a > ... Started by rl	1 Replies 56 Views	Jul 1, 2018 by Jbrasil
In the short-run if there is a surplus in the market for a product, the rationing function of price ... Started by dalyningkenk	1 Replies 20 Views	Jul 1, 2018 by fur
A redistributive program that taxes the rich and gives to the poor _____. a. is an example of ... Started by serike	3 Replies 38 Views	Jul 1, 2018 by cloudre37
Jose gets utility from the goods he consumes and also the income he earns. His utility function is ... Started by kellyjaisingh	1 Replies 69 Views	Jul 1, 2018 by milbourne11
Which of the following statements best represents a difference between short-run and long-run cost? ... Started by strangeaffliction	1 Replies 27 Views	Jul 1, 2018 by bfulkerson77
A player's best response is A) the strategy that maximizes his payoff given what he thinks the ... Started by wenmo	1 Replies 67 Views	Jul 1, 2018 by Ddddd
To reduce adverse selection A) firms can use screening. B) both consumers and firms can use ... Started by olgavictoria	1 Replies 38 Views	Jul 1, 2018 by daiying98
The rationing function of price A) occurs when there is a movement of resources into or out of ... Started by Awilson837	1 Replies 22 Views	Jul 1, 2018 by rekilledagain
A perfect price discriminating equilibrium maximizes A) consumer surplus. B) the associated ... Started by iveyjurea	1 Replies 27 Views	Jul 1, 2018 by Heffejeff
When economic analysis takes place within the context of maximizing a social welfare function, the ... Started by nelaaney	1 Replies 51 Views	Jul 1, 2018 by olivia_paige29
A movement upward along an upward-sloping Engel curve corresponds to A) upward-sloping ... Started by clmills979	3 Replies 91 Views	Jul 1, 2018 by juiceman1987
A goal of equality of income can be justified based on the utilitarian idea that _____. a. ... Started by DyllonKazuo	1 Replies 96 Views	Jul 1, 2018 by mfedorka
Which of the following best describes the guiding function of price? A) In response to a surplus ... Started by mp14	1 Replies 44 Views	Jul 1, 2018 by asware1
Suppose the production of VCRs can be represented by the following production function: q = L0.4 ... Started by bio_gurl	1 Replies 71 Views	Jul 1, 2018 by lin77x