Question about microeconomic theories

Assignment Help Microeconomics
Reference no: EM1374458

While sitting in your office one evening, you start to think about some of the key microeconomic messages you wish to communicate to the Board. (Key concepts include, but are not limited to, supply and demand, pricing, competition, costs & production, and economic value added.) Pick two key concepts and discuss what you will present to the Board and why.

Reference no: EM1374458

Questions Cloud

Discuss the appropriate target value and the actions : Build a Balanced Scorecard for unit of the comapny for which you work. Identify the strategic objectives of the entire company and the secondary objectives for the unit.
Scenario - labor supply and demand : Write a situation that would cause a shift in labor supply and demand. The following areas have had high job growth values and can be used for your scenario:
Question about keynesian economics : Identify a person in an organization, or event(s) that should be given credit for the relatively low, stable rate of inflation we've had in the United States since the late 1980s?
List the four types of investments : Identify the government department that compiles the statistics on unemployment. About how many business firms in the United States are proprietorships?
Question about microeconomic theories : While sitting in your office one evening, you start to think about some of the key microeconomic messages you wish to communicate to the Board.
Macroeconomics factors : During the job interview, the Vice President understood that you had received rigorous training in managerial economics, and you were able to choose some appropriate methods to predict the market movement.
Elasticity of demand : The government wants to decrease the consumption of electricity by 10 percent. The price elasticity of demand for electricity is -0.4.
Find the effect of increase in the property tax rate : A major step toward mastering the economic way of considering is learning to reason in terms of supply and demand. I have listed many questions below to answer and practice these ideas.
Law of diminishing marginal product results : Describe how the Law of Diminishing Marginal Product results in u-shaped average cost curves, both Average Total Cost and Average Variable Costs

Reviews

Write a Review

Microeconomics Questions & Answers

  Checking for optimal combination of inputs

A printer's wage rate is $20, and the price of a printing press is $5,000. The last printer added 20 books to total output, while the last press added 1,000 books to total output.

  Profits in monopoly-perfectly competitive environment

Assume marginal cost increases to 25 as a result of imposition of a tax. What takes place to monopoly and competitive price and output?

  Determining cartels-profit maximizing outputs

Compute the profit maximizing output produced by each firm. Compute the profits earned by each firm and the cartel.

  Efficiency of technical and economic

At a management luncheon, two managers were overeat arguing about the following statement "A manager must never hire another worker if new person diminishing returns". Is this statement correct? If so, why? If not, discuss why not?

  Determining marginal product of labor

Determine whether the firm is operating efficiently, given that its objective is to minimize the cost of producing the given level of output. Determine what changes (if any) in the relative proportions of labor and raw materials need to be made to..

  Demand and supply of cigarettes

What are some ways public policymakers can reduce demand of cigarettes (shift of the demand curve)? Assume the government decides to implement the tax on cigarette manufacturers in order to raise the price of cigarettes. How much does the amount of..

  Cost curves in perfect competition industry

Catfish farming in Louisiana is a perfect competition market. Hence, customers of catfish are getting their catfish at the minimum cost per unit of manufacturing catfish, and they are very happy.

  Computing all cost curves

Plot these curves on graphs. Compare the cost curves and discuss their characteristics.

  Efficiency and equity discussion

A competitive market is intended to result in improved efficiency, though it will not necessarily improve equity. That is, a competitive market might encourage efficient production but may not necessarily result in a redistribution of wealth

  Pros and cons of a big highway building program

Assume that you get a summer intern job and a recession start while you are there. Prepare a memo to your boss, who is a member of Congress,

  Economics production cost

Distinguish between explicit and implicit costs, giving examples of each. Differentiate between accounting profit, normal profit and economic profit.

  Question related to monopolistic competition

Do you think the overall level of R&D would rise or reduce over the next twenty to thirty years if the lengths of new patents were extended from twenty years to, say "forever"?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd