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Microeconomics Questions and Answers (Q&A)

E. Stanley, Technical writer
Answered: Oct 11, 2018
Option C - microeconomics is about the study if economy at micro level.
It focuses on issues that affect individuals and groups. It studies economics at individual, group and companies...Read More

3 Answers

N. Kingsley, Writer
Answered: Jul 11, 2018
A buyer would be willing to pay is measured in the maximum’s amount he is willing to pay for a good. Usually, products tend to be more expensive if high-quality materials were used just to...Read More

2 Answers

Rosariocmanahan
Answered: Apr 30, 2017
When the price changes, the opposite effect is that the quantity of good x demand will decrease

2 Answers

Jarem
Answered: Jun 28, 2018
ALL OF THE ABOVE In monopolistic competition closely substitute goods are produced which are slightly differentiatedbut let us note thata homogeneous productis one that cannot be distin...Read More

2 Answers

Kfelleng
Answered: Aug 28, 2017

Definetely true it is B.

_As the price of goods increases, the demand decreases.

2 Answers

John Adney
Answered: Mar 29, 2017
Are we supposed to ignore the sign of the elasticity of demand when answering the question?

2 Answers

Matz Lewis Clark, College student
Answered: Feb 28, 2019
The answer to this is letter B. Whenever the price of the item increases by 1%, the demand for the product decreases by 2.5%. This is something that a lot of companies should consider when they...Read More

2 Answers

John Adney
Answered: Oct 12, 2017

I object to this unfair and immoral question. It goes against my beliefs.

2 Answers

B.Lisa
Answered: Feb 26, 2018
Input costs can include materials, labor, fees, and other expenses. Output is the finished product. MC stands for marginal costs. If a company is spending more on their input costs, such as...Read More

2 Answers

Bobby Rickets, Content Reviewer
Answered: Dec 17, 2018
Get ready, because capitalism is a fireball and hard to anticipate. The correct answer is most likely answer B: equilibrium quantity will decrease, but equilibrium price may increase, decrease,...Read More

2 Answers

B.Lisa
Answered: Feb 26, 2018
Price discrimination is when a producer will charge a different price for a different market. One good, modern example is clothing. Men’s clothing is typically around the same price for the...Read More

2 Answers

H. Martin, Content Writer
Answered: Sep 20, 2018
The slope of the indifference curve is known to be A. The marginal rate of substitution is usually done when the value of y is given up in order to improve the value of x. This type of graph may...Read More

2 Answers

John Adney
Answered: Jul 11, 2017

Decrease in the quantity produced of one good divided by the increase in the quantity produced of another good as we move along th eproduction possibilities frontier

2 Answers

E. Good
Answered: Dec 14, 2018
The answer to this question is C. An increase in consumer income will shift the demand curve for an inferior good to the left. Think about it this way. If people work provide a service, like a...Read More

2 Answers

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