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Microeconomics Assignment -
Questions -
Q1. In Riyadh City Road traffic congestion is increasing day by day. As an economist how you see this problem? Suggest and explain an economist's solution to this problem.
Q2. What is opportunity cost? Draw a Production Possibility curve for a country producing two goods and show with help of an example, how principle of opportunity is applied in explaining the changes in production possibilities for the country.
Q3. What is market equilibrium? Take an example of pizza (assume its price and quantity demanded) and analyse graphically, what happens to the equilibrium price and quantity when, (a) there is increase in demand and (b) there is increase in supply.
Below is another quote from the paper. In this quote, the author reports the mean number of minutes of cell phone use per week for those who participated in the survey. What additional information would have been provided about cell phone use beha..
Explain what type of wage rigidity is most likely to affect the unemployment rates of the following types of workers: a. workers with low marginal labour productivity; b. workers seeking jobs that are typically unionized
the size of the labor force in a community is 800 and 720 of these folks are gainfully employed. in this community 200
Research the current demand for a good or service of your choice. Collect information that will affect the demand for the good or service.
Predict how given events will affect the equilibrium price and quantity in the market for oil.
What happens to the market output when Mr. Burns raises the price he charges - Create a graph showing the price (labeled as P1) that Levi's changes. Also, identify the markup.
Consider an economy that only produces hamburger patties (H) and onions (O). There are two consumers Ron and Dave. Ron likes to consume his hamburger patties.
Dexter's donut shop is able to increase its total revenue from $2000 to $2400, What is the price elasticity of demand for Dexter's donut shop
From the scenario for Katrina's Candies, examine the key factors affecting the demand for and the supply of a good in general and Katrina's Candies specifically.
If there were a global market in water, like there is in oil, how do you think the market would work Would a free world market in water achieve an efficient use of the world's water resources Explain why or why not.
An insurance company that faces fierce competition from other providers is considering a strategy to sell more policies by simplifying its portfolio.
What is the current equilibrium level of GDP, what is the level of injections and what is the level of withdrawals?
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