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Sample Question: Microeconomics
The technology is now developing so that road use can be priced by computer. A computer in the surface of the road picks up a signal from your car and automatically charges you for the use of the road. a. How could this technological change contribute to ending bottlenecks and rush hour congestion? b. What are some of the problems that might develop with such a system?
Assume two firms, A and B, serve a market with demand D(p) = 11 - p. Also assume that (i) firms compete for market share
Find the velocity given that the market is in equilibrium. MD1 is the relevant curve and it is given that the real GDP is 30,000.
Draw indifference curves to represent the following types of consumer preferences-I like peanut butter, but neither like nor dislike jelly.
See the inflation adjusted data also identify the periods of negative real economic growth. What might have caused each of these periods of economic decline.
Answer whether the following statements are true or false, explaining your answer in each case.
The table below is a production possibility table for the fictional country of Myopia. Use it to construct the corresponding production possibility curve.
Assume the situations faced by the subsiquent individuals. Who gains and who loses.
Elucidate why the Aggregate Supply curve becomes increasingly steeply sloped at levels of RGDP.
Elucidate the six costs associated with inflation and evaluate which if any of the costs are important for the average consumer.
Describe the dimensions of quality from micro- and macro-perspectives. What are the different formats or models and applications of quality? Discuss the top three in your opinion.
If the organization wishes to restore sales to 10,000 per month determine the price they need to charge.
Suppose that the governmental authorities wished to decrease use of a pesticide that is leaching into groundwater supplies in a watershed by 60% from current use levels.
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