Microeconomics

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In the kinked demand curve model, if one firm reduces its price A) other firms will also reduce ... Started by natalie2426	1 Replies 59 Views	Jul 1, 2018 by reelove4eva
Suppose the supply and demand of land for natural gas extraction are imperfectly elastic. Given that ... Started by maegan_martin	1 Replies 25 Views	Jul 1, 2018 by nathang24
Which of the following events will help to burst an asset price bubble? A) Speculative demand for ... Started by jman1234	3 Replies 54 Views	Jul 1, 2018 by chinwesucks
Refer to Figure 9.7. After the policy, consumer surplus became A) 0. B) 10. C) 20. D) ... Started by tingc95	1 Replies 15 Views	Jul 1, 2018 by catron30
Suppose that three oligopolistic firms are currently charging 12 for their product. The three firms ... Started by Themember4	1 Replies 20 Views	Jul 1, 2018 by lin77x
Locating a point on a utilities possibilities frontier gives you information about A) both equity ... Started by Arii_bell	1 Replies 21 Views	Jul 1, 2018 by carolinefletcherr
Which major asset experienced a price bubble just before the housing price bubble of 2006-2009? ... Started by Davideckstein7	1 Replies 46 Views	Jul 1, 2018 by sylvia
Refer to Figure 9.7. Because of the policy, consumer surplus fell by A) 10. B) 20. C) 12,500. ... Started by Garrulous	1 Replies 21 Views	Jul 1, 2018 by beccamahon
When comparing point A, which lies within a utilities possibilities frontier, with point B, which ... Started by bobypop	1 Replies 112 Views	Jul 1, 2018 by joewallace
This year a new oil field with substantial reserves has been discovered. Such discoveries are not ... Started by cnetterville	1 Replies 39 Views	Jul 1, 2018 by matt
The Russian government wants to reduce the consumption of vodka. A one hundred rouble tax on each ... Started by CQXA	3 Replies 12 Views	Jul 1, 2018 by Mochi
What is net marginal revenue? A) The same as marginal profit. B) The additional revenue the ... Started by newyorker26	1 Replies 45 Views	Jul 1, 2018 by vseab
The following expressions describe a perfectly competitive labor market. The labor supply curve is: ... Started by Bob-Dole	1 Replies 55 Views	Jul 1, 2018 by aidanmbrowne
Refer to Figure 9.7. The amount the government will have to pay to producers to sustain this policy ... Started by ssal	1 Replies 105 Views	Jul 1, 2018 by TINA
The key assumption required for us to use a linear variable cost function of the form VC = bq is ... Started by j.rubin	1 Replies 53 Views	Jul 1, 2018 by meltdown117
What is the profit maximizing condition for a vertically integrated firm? A) Net marginal revenue ... Started by washai	1 Replies 30 Views	Jul 1, 2018 by lindahyatt42
Suppose the price of rice increases and you view rice as an inferior good. The substitution effect ... Started by CharlieWard	1 Replies 127 Views	Jul 1, 2018 by itsakadoozi
If households could be charged differently for different types of garbage, A) the total amount of ... Started by ss2343	1 Replies 30 Views	Jul 1, 2018 by princessflame2016
Under the kinked demand curve model, a small increase in marginal cost will lead to A) an ... Started by DyllonKazuo	3 Replies 131 Views	Jul 1, 2018 by elyse44
In some markets plumbers have a choice of joining unions or working as nonunion plumbers. The total ... Started by sarasara	1 Replies 91 Views	Jul 1, 2018 by guyanai
Your indifference curves for good X (horizontal axis) and good Y (vertical axis) are vertical lines ... Started by NClaborn	1 Replies 230 Views	Jul 1, 2018 by flannelavenger
The main point of the second theorem of welfare economics is that: A) efficiency is more ... Started by jwb375	1 Replies 116 Views	Jul 1, 2018 by flexer1n1
For a monopsony buyer of an input, the marginal expenditure curve A) lies above the average ... Started by B	1 Replies 11 Views	Jul 1, 2018 by tuwy
Consider a supply curve of the form: Q = c + dP. If d equals zero, then supply is: A) completely ... Started by luminitza	1 Replies 21 Views	Jul 1, 2018 by tdewitt
Suppose you only consume rice and bananas. Can both of these goods be Giffen goods in your ... Started by 09madisonrousseau09	1 Replies 80 Views	Jul 1, 2018 by InfiniteSteez