Microeconomics

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If MUa/Pa is greater than MUb/Pb, and the consumer is consuming both goods, the consumer is not ... Started by CQXA	1 Replies 16 Views	Jul 1, 2018 by irishcancer18
Excess capacity in monopolistically competitive industries results because in equilibrium A) each ... Started by Frost2351	1 Replies 21 Views	Jul 1, 2018 by IRincones
Given the information in Scenario 14.1, what is the marginal revenue product of labor? A) ... Started by altibaby	1 Replies 13 Views	Jul 1, 2018 by yotaSR5
An ideal cost-of-living index measures: A) The relative cost of maintaining a particular utility ... Started by nelaaney	1 Replies 41 Views	Jul 1, 2018 by TheNamesImani
Consider two upward sloping income-utility curves with income on the horizontal axis. The steeper ... Started by vinney12	3 Replies 22 Views	Jul 1, 2018 by rosiehomeworddo
In peak-load pricing, A) marginal revenue is equal in both periods. B) marginal revenue in the ... Started by jhjkgdfhk	1 Replies 20 Views	Jul 1, 2018 by zoeyesther
Refer to Scenario 2.1. If P = 25, which of the following is true? A) There is a surplus equal to ... Started by nmorano1	1 Replies 58 Views	Jul 1, 2018 by EAN94
The object of diversification is A) to reduce risk and fluctuations in income. B) to reduce ... Started by ap345	1 Replies 94 Views	Jul 1, 2018 by bimper21
The authors cited statistical evidence that the price elasticity of demand for Royal Crown cola is ... Started by jake	1 Replies 61 Views	Jul 1, 2018 by wergv
Which of these is NOT a generally accepted means of reducing risk? A) Diversification B) ... Started by ahriuashd	1 Replies 20 Views	Jul 1, 2018 by frogdreck123456
Under a binding price ceiling, what does the change in producer surplus represent? A) The gain in ... Started by Chelseaamend	1 Replies 27 Views	Jul 1, 2018 by Natalie4ever
Suppose the equilibrium price of milk is 3 per gallon but the federal government sets the market ... Started by anshika	1 Replies 23 Views	Jul 1, 2018 by guyanai
A plant uses machinery and waste water to produce steel. The owner of the plant wants to maintain an ... Started by SAVANNAHHOOPER23	3 Replies 146 Views	Jul 1, 2018 by Silverbeard98
Why don't some firms in monopolistic competition earn losses in the long run? A) The firms have ... Started by jman1234	1 Replies 52 Views	Jul 1, 2018 by welcom1000
The current market price for good X is below the equilibrium price, and then the demand curve for X ... Started by FButt	1 Replies 26 Views	Jul 1, 2018 by frogdreck123456
The law of large numbers: A) can be used to explain why some people are risk averse and others ... Started by lidoalex	1 Replies 29 Views	Jul 1, 2018 by zacnyjessica
The market demand curve for a popular teen magazine is given by Q = 80 - 10P where P is the magazine ... Started by amal	1 Replies 62 Views	Jul 1, 2018 by Benayers
If an individual's labor supply curve is backward bending, then A) the income effect associated ... Started by jerry coleman	1 Replies 54 Views	Jul 1, 2018 by Brenm
Which price index tends to understate the impact of price changes on consumers? A) Chain-weighted ... Started by student77	1 Replies 52 Views	Jul 1, 2018 by Ksh22
A local theater charges 5.00 for every matinee (daytime) ticket, but the ticket prices are much ... Started by swpotter12	1 Replies 123 Views	Jul 1, 2018 by cascooper22
Refer to Scenario 14.2. If each unit of output sells for 5, how many days of labor will the firm ... Started by sam.t96	3 Replies 31 Views	Jul 1, 2018 by irishcancer18
Refer to Scenario 14.2. What is the marginal revenue product of the 4th worker? A) 20 B) 25 ... Started by jazziefee	1 Replies 16 Views	Jul 1, 2018 by maaaaaaaaaa
The utilities commission in a city is currently examining pay telephone service in the city. The ... Started by cartlidgeashley	1 Replies 148 Views	Jul 1, 2018 by carojassy25
Which of these is NOT an exercise in general equilibrium analysis? A) A discussion of factors ... Started by Kthamas	1 Replies 13 Views	Jul 1, 2018 by xiazhe
Refer to Scenario 14.2. What is the average product of the 4th worker? A) 4 B) 5 C) 6 D) ... Started by Kikoku	1 Replies 13 Views	Jul 1, 2018 by ghepp