Efficiency is a central concern in microeconomics because

Assignment Help Business Economics
Reference no: EM131238861

1. Efficiency is a central concern in microeconomics because:

a) resources are unlimited, but economic wants are limited.

b) resources are unlimited, and economic wants are also unlimited.

c) resources are limited, but economic wants are unlimited.

d) resources are limited, and economic wants are also limited.

2. Which of the following would NOT shift the supply curve for ground coffee beans?

a) popularity of coffee drinks.

b) price of land where coffee beans can be grown.

c) number of coffee bean farmers.

d) an expected increase in the future price of coffee beans.

Reference no: EM131238861

Questions Cloud

Would you consider using a focus group for your study : The difference between collecting data using individual interviews and a focus group (e.g., intent, selecting participants, conducting the interview or focus group) Given the topic you are currently using for your research, would you consider usin..
Outline features of an ideal health care policy : Outline features of an ideal health care policy. Keep in mind that, despite your wisdom and noble intentions, resources are limited. What are several of the policy items you want to focus on immediately?
Development goal is to eradicate extreme hunger and poverty : The first millennium development goal is to eradicate extreme hunger and poverty. What is the current poverty level in the South Korea ? What percent live below the national poverty line?
Develop a description of the leadership strategies : Develop a description of the leadership strategies. Formulate an overview of how the strategy is used and rate its effectiveness. Argue whether the strategy is still relevant and effective in present day organizations. Why or Why not?
Efficiency is a central concern in microeconomics because : Efficiency is a central concern in microeconomics because:  Which of the following would NOT shift the supply curve for ground coffee beans?
Levels of management in the traditional pyramid : List the three levels of management in the traditional pyramid. Give an example of a task that a manager at each level might perform.
Evidence of a lack of competition or even collusion : Competition at the Pump People often observe that prices of some items (gasoline prices, because they are very visible, are an example) charged by different sellers do not vary much and assume that this is evidence of a lack of competition or even co..
Consider simple economy consisting of only four firms : Consider a simple economy consisting of only four firms. Firm A, a mining enterprise, extracts iron ore. Firm B, a steelmaker, produces steel sheets. Firm C, a carmaker, makes automobiles while Firm D produces automobile tires. In 2011, Firm A extrac..
Evaluate the introduction of a product to tesla : Capital Budgeting Project - Evaluate the introduction of a product to Tesla, in this case Tesla Powerwall. Full free-cash flow forecast analysis. Justify each assumption made about the numbers. Carefully forecast cash in-flows and out-flows for the..

Reviews

Write a Review

Business Economics Questions & Answers

  What is the socially efficient quantity of paper to produce

John has a factory that produces paper and as a side product some chemicals are thrown into the water: one unit of the pollutant per unit of paper. The marginal benefit to John of producing paper is given by MB = 10 - Q. The marginal cost is given by..

  Explain why there is blurry line dividing objects

Explain why there is a blurry line dividing objects that are money from those that are not. Give examples of some clear-out cases and some borderline ones. Could the position of this blurry line change over time?

  Find deadweight loss as a percentage of total tax revenue

Find the deadweight loss from the taxes in parts c and d, assuming that there are no externalities associated with trading in this market. Find the total tax revenues (equal to the tax per unit times the number of units sold when the tax is imposed)...

  Which of these types of firms can earn a positive economic

Which of these types of firms can earn a positive economic profit in the long run.

  Current revolution a communications revolution

In what way (or ways) is the current Knowledge Revolution a child of the Industrial Revolution? Is this a new revolution or simply an extension of the 18th-century revolution? Given the history, is it perhaps more appropriate to call the current revo..

  Modified to sell them as fixed-gear bikes

Joey, David, Tracy, and Surly own one track bicycle apiece, and they\'ve each modified to sell them as fixed-gear bikes or \"fixies.\" Joey is willing to sell his bike at $100 or more. Maintain the orientation of each bar when creating the graph (i.e..

  An irrigation return flow drain has sampling equipment

An irrigation return flow drain has sampling equipment that can be powered by solar cells or by running an electric line to the site and using conventional power. Solar cells will cost $14,000 to install and will have a useful life of 10 years. Annua..

  About the learning curve

Raytheon is producing an air-to-air missile. The cost of the 500th missile is estimated to be $300,000 and the learning curve is 88%. What is the estimated cost of the 600th missile? What is the total cost of the lot of missiles from unit 601 to unit..

  Fed choose as a target for the federal funds rate

Assume that inflation is currently 4% but the Fed’s inflation target is 2%.

  Scottish independence referendum had passed

Suppose (contrary to fact) that the Scottish independence referendum had passed, Scotland had become independent, and you became its finance minister. Your first order of business is to recommend a currency for Scotland. Three proposals have been mad..

  Free market or protectionism

Evaluate the arguments for and against protection and state which one (free market or protectionism) is more beneficial to a country.

  Absolute value of donalds mrs is equal to the price ratio

Donald is a stamp collector. The only things other than stamps that Donald consumes are Harold's doughnuts. It turns out that Donald's preferences are quasilinear, represented by the utility function U(d, s) = lnd + s, where d is the number of doughn..

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