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Now that we're at the end of the semester, I'd like you to think about what you have learned in this course. Imagine that you are writing to a friend next September who is about to begin a microeconomics course and asks: Which concept that we will study will be most useful in my life as a consumer? Why? Which concept that we will study could be most useful in my life as a voter on economic issues? Why? Which issue in microeconomics is likely to unresolved after the course? That is: what will I still not understand well because microeconomics doesn't have a very good answer? Why?
Will the homeowner retrofit also which insurance policy will the homeowner buy. Explain will the insurance company make a profit (on average) given the homeowners choice.
Assume that, in a perfectly competitive market at the profit maximizing quantity, the market price is greater than average total cost.
What is the equation for the market demand for this good if there are only these three individuals in the market - What is the equation for Country A's production possibility frontier?
Which fiscal policy choices are preferred, by an individual who prefers a small public sector (limited role for government), for solving inflationary and recessionary gaps?
Find its profit-maximizing output level.calculate her profit - what is the lowest price a typical seller is willing to accept in the short run?explain with calculation.
Elucidate what is the difference among real GDP and nominal GDP.
Describe the mission of the World Trade Organization. How effective are they in pursuing this mission What do you see as the future outlook for the WTO? Be sure to consider both challenges and opportunities.
You just opened a flower shop and are trying to understand pricing issues. You were told that elasticities are very important in determining prices and what products to supply, so you decide to investigate this concept.
Engineers at the national research laboratory built a prototype automobile that could be driven 180 miles on a single gallon of unleaded gasoline.
If a local movie theater sells tickets at different prices (senior citizens versus young people, matinee versus evening prices) is the local movie theater a monopoly What about the concession stand inside the theater
find the marginal utility functions of the following utility functionsplot the marginal utility functions. indicate
Assume that the MPC is 0.85 and that the Government is considering to boost the economy to increase real GDP by $2 trillion for the 2008 general elections.
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