What is the Importance of Micro-economics. Or Write a short note on the importance of micro economics?

Q: Q 4. ( A) Consider the following production functions: are products and xy is the use of input i in ...

A: We are given 2 production functions, where input x is used in producing both Y1  and Y2  Y1= 2x1 Y2=...

Q: In experiments in which participants voluntarily contribute to the provision of a public good, we of...

A: The propensity for freeriding behaviour is larger in the context of an uniform tax burden for all pa...

Q: What are the three (3) most important things that you believe should be done to reduce hunger in our...

A: Hundreds of theories exist regarding how to end world hunger, many of which are hotly discussed by a...

Q: 1- Solve the set of simultaneous equations below: a- 2x-4y=-24 9x-3y=-3 b- 2x+3y=27 6x+9y=81

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any sp...

Q: please explain why the statements are false

A: Given: Own price elasticity of demand=0

Q: (A) explain how rapid urbanization can pose a problem in the country. Explain in 3 sentences only. (...

A: Money has been evolved since long back and people utilise money for various requirements. There are ...

Q: In which economy is GDP per capita higher in steady state? Economy A Economy B O Not enough Informat...

A: The Solow Model of economic growth or the neo classical model of growth This model is also known as ...

Q: Which of the following is an example of an automatic stabilizer? Discretionary spending A new tax la...

A: Automatic stabilisers are a sort of fiscal policy that works automatically to smooth out fluctuation...

Q: 4. The real GDP in the first quarter of 2020 was found to be $500,000 and the number of hours worked...

A: 2020 data:- Real GDP = $500,000 No of hours worked = 5000 2021n data :- Real GDP rose to = $720,000 ...

Q: An IOU agreement was made between two persons. For a face value of P100,000, it was agreed that the ...

A: Given the face value of bond = P100000 Time = 8 years Interest rate = 10.50% Redemption amount = 90%...

Q: Which of the following DOES NOT agree with the definition/description of Benefit-Cost ratio? A. Bene...

A: The benefit-Cost ratio is a method to analyse the economic worthiness of a project. It compares the ...

Q: what do you think about NFTs in the market, is there and need for them? And what are some concerns r...

A: Non-fungible token(NFT): The item can be considered as non-fungible when the particular item cannot ...

Q: Consider a Cournot equilibrium where each of the (n) firms faces a constant marginal cost of (m), th...

A: Given information Cournot demand curve P=a-bQ lets take 2 firm Q=q1+q2 Marginal cost=C  

Q: You've got lucky and about to get married. You are looking for an apartment to buy. Your savings fro...

A: Lenders charge borrowers an interest rate based on a percentage of the principal, which is the amoun...

Q: What would happen to demand for video games if Ubisoft produced a video game everybody says is the m...

A: In the given chart the different price level of a video game is given along with its demand and supp...

Q: Based on the graph answer the question below Price P2 M. P1 K Q, Q3 Quantity If the price rises from...

A: "Producer surplus is indicates by the area above the supply curve and below the market price."

Q: Given cost and price (demand) functions C(q)= 110q + 44,600 and p(g) = - 2q + 860, what is the margi...

A: p(q)=-2q+860TR=p x q     =(-2q+860) x q     =860q-2q2MR=860-4qNow, at production level of 55 items,M...

Q: ear end ash Flow 1 2 3 4 -3,345 1,100 1,100 1,100 1,

A: Assume, CF = Annual cashflow  IRR = r n = 4 years

Q: Vegan food diets becoming more popular, more mainstream You've come a long way, vegan. Once mocked...

A: Market demand for a commodity can change as a result of a change in consumers income, their tastes a...

Q: Multiple choice - microeconomics 41) Where is the competitive firm’s short-run supply curve located...

A: During the short run, only one factor is variable and the rest of all the factors are fixed factors....

Q: Analyze whether the following statements based on the 3 components in deriving the AS curve are true...

A: Note:- Since we can only answer up to three subparts, we'll answer first three. Please repost the qu...

Q: Data for output (real income) and savings are presented in the table below. a. Fill in the missing v...

A: Formula to calculate:- a) APC=CYb) APS=SYc) MPC=∆C∆Yd) MPS=∆S∆Y

Q: .Draw the indifference curve diagrams for the utility functions listed below. Plot x on the horizont...

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question...

Q: small a small open economy, illustrate how a fiscal expansion (such as an increase in government spe...

A: Fiscal Expansion is defined as the government spending is higher than their revenue, this condition ...

Q: You are the manager of a bakery that produces and packages gourmet muffins, and you currently sell m...

A: The demand function expresses the demand changes due to chang in price and the inverse demand functi...

Q: What is the opportunitiy cost of having health insurance? What is the opportunity cost of not having...

A: The potential gains that an individual, investor, or organisation misses out on when choosing one op...

Q: 1. Emily recently graduated with a B.A. in economics and was offered a job with a small but growing ...

A: Given: Emily's earning is = $38,400 per year Emily inherited = $60,000 The interest per year = 5% He...

Q: Find the maximum profit and the number of units that must be produced and sold in order to yield the...

A: We have given the revenue function R(x)=7x-4x2            .... (1) Cost function: C(x)=x3-5x2+4x+1  ...

Q: Using the following diagram (the equilibrium quantity is 5.5, the supply curve intersects the price ...

A: a. P=7.5 Q=3.5

Q: Figure 1 shows the China's Real GDP Growth Rate since 1981, the arrow indicator shows th trend of de...

A: Real GDP growth is defined as economic growth measured by Gross Domestic Product (GDP) from one time...

Q: 39) A profit-maximizing firm in a competitive market produces small rubber balls. When the market pr...

A: "A profit-maximizing firm will always produce at a point where it's marginal revenue equates the mar...

Q: More and more global business firms are becoming stateless corporations. Do you think this may benef...

A: Multinational corporations conduct business in at least two countries. A multinational corporation i...

Q: Suppose the government is weighing different fiscal policy options, and they would like your help es...

A: As given decrease transfer to households by $1000 or decrease government purchases of goods and serv...

Q: Would the existence of more EXIM banks contribute to increased international trade within the Caribb...

A: EXIM stands for "Export-Import Bank", whose major function is to ensure the smooth flow of internati...

Q: Consider a good X sold in a monopolistically competitive market. Let the domestic government impose ...

A: Different countries have different currencies all around the world. For example United States of Ame...

Q: .what is the history of transportation? ( year - what was the way they transport )

A: Transportation plays an important role in the economy. As the growth occurred in transportation, it ...

Q: 2. Below is a tabular data of price and quantity demand and quantity supply for banana que. Qd Qs 10...

A:                                         d) Producer surplus=12(15-0)(30-0)                         ...

Q: A given change in taxes shifts the aggregate demand curve by than an equal change in government spen...

A: We know that the Government Spending Multiplier = 11- MPC and the Tax Multiplier = MPC1 - MPC

Q: Define privatization in 30 to 40 words.

A: Privatization means:

Q: Given the demand and supply functions, determine consumer's surplus under perfect competition: Ра 3 ...

A: Answer:

Q: Given the demand and supply functions, determine consumer's surplus under perfect competition: Pa = ...

A: "Consumer surplus indicates the difference between the maximum price which a consumer is willing to ...

Q: Mavis earns income in two periods, M1 and M2 and buys consumption goods in twd periods as well, C, a...

A: Given information U=u(C1)+u(C2)1+δ Utility is well behaved function lets take 11+δ=β Utility functio...

Q: Graph the following c. People of town X move to town Y. Supply in town X remains the same. Show effe...

A: The markets are the place where the buyers, and the sellers tend to interact and meet with each othe...

Q: What are some of the uses to which labors tandards are put?

A: Labor standards refer to standard conventions relating to workers, such as basic worker rights, work...

Q: Suppose that you are in an economy with reserve requirements are equal to 11%, and cash drain is equ...

A: Given reserve requirement = 11 % Currency drain  = 3 % Therefore Currency/deposit ratio = 0.03 Reser...

Q: The autonomous savings level is -300, if the income increases to 500, the level of consumption will ...

A: Autonomous saving= -300 Income=500 Consumption= 700  

Q: The unemployment rate is 11.5%, the natural rate of unemployment is 7.5%, and the potential rate of ...

A: Given information: Current unemployment rate: 11.5% Natural unemployment rate: 7.5% Potential GDP r...

Q: Suppose a nation’s firms make heavy use of factors of production owned by residents of foreign count...

A: GDP refers to the money value of all final goods and services that are produced within the country d...

Q: Graph the following a. Flood destroys the rice crops. Demand remains constant. Show effects on marke...

A: a.  Rice grows well when submerged in water, but if flood levels are high enough to submerge the ent...

Q: Which one of the following statements is true in regards to who owns the Feds district banks? O A. T...

A: The composers of the Federal Reserve Act intentionally dismissed the idea of a single central bank. ...