Explain the concept of circular flow of income, Problem 1: i) It has of...

Problem 1: i) It has often been argued that a monopoly has both costs and benefits. Discuss. ii) Explain, using diagram the short and long equilibrium positions of a monopo

Production function, Your firms production function : Q=4K^1/2L^1/2 Suppos...

Your firms production function : Q=4K^1/2L^1/2 Suppose that the price of labor is $5 and the price of capital is $20. Your firm desires to produce 200 units of output. How much

Microeconomics, Using real life examples and the use of the following conce...

Using real life examples and the use of the following concepts: Effecient vs Ineffecient and Opportunity cost and increasing opportunity cost

The lower the value MR of monopolist ,

Supply analysis, what is the explanation about supply analysis?How to under...

what is the explanation about supply analysis?How to understand?

Theory of Consumption, llustrate and explain the changing demand gor big Ma...

llustrate and explain the changing demand gor big Mac using the indifference curves and budget line

Production possibility frontier ppf, Production possibility frontier PPF is...

Production possibility frontier PPF is a combination of two or more goods a which a country can make in a given timeline or period with resource fully employed.

Graphing, I can''t figure out how to graph the aggregate consumption functi...

I can''t figure out how to graph the aggregate consumption function and the aggregate saving function

Structural unemployment, Structural Unemployment: This is unemploymen...

Structural Unemployment: This is unemployment resulting from changes in the pattern of demand for goods and services or changes in technology.These changes may in turn alter

Axioms - revealed preference theory, Axioms: Revealed preference theor...

Axioms: Revealed preference theory is based on the axioms listed below.  •  Consumer will spend all her income on goods. The consumer equilibrium always remains on the budg