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Assignment - Microeconomics 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.
Analyze the sustainable approach to waste reduction developed - Previous methods of production
Consider an auction with 1,000 risk-neutral bidders. It is know that these bidders have affiliated values. Based on this information we know the expected revenues for the different auction types will be
The supply curve for milk shifts when the price of milk changes because the price of milk is measured on the vertical axis of the graph.
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Which of the following best explains why elasticity varies along a linear demand curve? Labor demand is more elastic when: Unions are likely to be less successful in negotiating higher wages in those labor markets in which:
How does each answer compare to the answer the original Solow model would give when s increases, both qualitatively and quantitatively and instantaneous increase in the growth rate of productivity
you have been hired as a consultant by your local mayor to look at the various market structures. your role is to
With L on the horizontal axis and K on the vertical, show where you might be in long run equilibrium at the production of 5,000 cookies. The price of L is "w", and the price of K is "r". Now: In the SR (short run), with L as a variable factor,
when the FE curve is more interest elastic than the LM curve. Compare the predictions of each version of the model with those of the closed economy IS-LM model.
Ben Baldwin, the CEO of the Westside Health Consortium, summoned Rod Jameson, vice president for Human Resource, and Part Collect, chief financial officer.
Assume that a purely competitive firm is selling 2000 television sets a day at a cost of $90,000. Assume that if the firm sells 1600 units per day, its total cost would be $60,000, and if it sold 1000 units per day, it would have a total cost of $55,..
Rcognize the three phases of production and describe why the firm short run production has only one rational stage of production.
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