Basic microeconomics concepts

Assignment Help Microeconomics

Reference no: EM1370012

In the competitive industry, reduction in property tax rate on fixed capital (plant) would reduce the fixed cost of all firms. This would have the following short-run effects on P, Q, and q respectively.

A) Fall, Rise, Rise B)Fall Fall Rise

C) Rise, Rise, Rise D) No change in any

E) Fall, Fall, Fall

In a perfectly competitive market, the question facing the individual firm is

a. how much to produce. b. what price to charge.

b. how much to produce and what price to charge. d. how to differentiate its product.

c. as a price searcher, to emulate its competitor's pricing strategy.

Reference no: EM1370012

Questions Cloud

Explain international business etiquette : Explain International Business Etiquette Needs to be 100% original and cited perfectly and consulting the published works of others is required

Calculate output, price at profit-maximizing activity level : Paradox Dental, Limited., enjoys a local monopoly in provision of oral examination services in Tuskegee, Alabama. Total and marginal revenue relations for standard procedure are:

Computing economic profit or loss : Suppose a perfectly competitive firm is producing 300 units of output, P = $10, ATC of 300th unit is $8, marginal cost of 300th unit = $10, and AVC of the 300th unit = $6. Based upon this information, the firm is:

Write java program to reads ten values from user : Write the java program which reads 10 values from user and store them in 1 daimantion array. your program will ask the user wich operation he wants to perform:

Basic microeconomics concepts : In the competitive industry, reduction in property tax rate on fixed capital (plant) would reduce the fixed cost of all firms. This would have the following short-run effects on P, Q, and q respectively.

Determine the profit maximizing price and output levels : Bow Wow Bazaar is a increasing company specializing in gourmet dog food and supplies in Florida resort communities. BWB's demand and cost information are as follows:

Define the term opportunity cost : Define the term "opportunity cost." Now that you have a definition of opportunity cost weigh the positives and negatives of taking a leave of absence from work and moving out of town to attend college full time, or maintaining your job while atten..

Write a code to locate and rank keywords : You are working on the custom Web application to design document library for client. Write code to locate and rank the keywords. You have been given sample document to use for testing.

Effects on isoquant and isocost of reduction in wages : Assume that as the result of recent labor negotiation, wage rates are reduced by 10% in the production procedure employing only capital and labor.

User Account

All Pages