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Home >> Microeconomics
Economic profits are:
total revenue minus total opportunity cost.
total revenue minus total cost.
marginal revenue minus marginal cost.
total profits of the economy as a whole.
Microeconomics, Economics
Question: In another economy consumer 1 has no x and 8 units of y and the utility fucntion U(x,y) = x - (1/4)y 2 . Consumer 2 has 16 units of x and 8 units of y and the utility function U(x,y) = x +2y (1/2) . Describe th ...
Question: 1. The effort of a program evaluator to assess the assumptions and procedures relating to the data that have been collected for analysis is referred to as: i) metaevaluation ii) Objective program evaluation ii ...
Question: People with non-mainstream sexual preferences are a larger percentage of the population of large cities than small towns. Is this because cities encourage deviant behavior or might there be an economic explanat ...
Participation in the labor force is much lower than it has historically been. How have government benefits, such as food stamps and housing subsidies, affected the labor-leisure choices of individuals?
Question: In no-fault insurance, anyone involved in an accident is compensated for losses, regardless of who actually caused it. What do you expect will happen to the volume of auto accidents if no-fault insurance replac ...
Question: Assume that the marginal product of a server in a restaurant equals the number of customers he can wait on per hour. The restaurant owner currently uses one server and is considering adding a second to work alo ...
Question: The ABC Corporation has an investment opportunity that costs $175,000 and 9 years later pays a lump-sum amount of $415,000. What percent interest rate per year would be earned on this investment. Calculate your ...
Question: Electric utilities in California often make exchanges of power with utilities in the Pacific Northwest because their time patterns of consumption differ. California peaks in summer to meet air conditioning load ...
Question: Many industries benefit in the short run from lower interest rates and an increased supply of credit availability. Nonetheless, we know from bitter experience that the attempt to hold interest rates below equil ...
Question: How has the formation of the EU created new opportunities for member countries? How these opportunities became important to international managers in other geographic regions such as North America or Asia? The ...
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