This book is aimed at students of introductory Microeconomics courses. By following the detailed solutions to the sample problems, you will learn how to solve the most common math-based questions on Microeconomics assignments and tests. Focusing on the economic decisions that firms make, the book sh READ MORE »
- Responses: 257
- eBooks: 1
- BA, University of Waterloo, 1994
- MA, University of Phoenix Online, 2006
- Ed.D, University of Phoenix Online, IP
- English Language and Literature
Select an existing good or service from the Will Bury's Price Elasticity, Incremental Costs, or Thomas Money Service Inc. scenarios, or select an existing business with which you are familiar.
Please provide help on writing a business proposal to improve an existing good or service for the chose READ MORE »
1. Pricing ATM Machines:
A bank in a medium-sized Midwestern city, Firm X, currently charges $1 per transaction at its ATMs. To determine whether to raise price, the bank managers experimented with a number of higher prices (in 25 cent increments) at selected ATMs:
Fee # of Transactions
$2 READ MORE »
Managers are very interested in how a consumer makes a choice among alternatives. In this exercise, we ask you to consider the amount of money you spend purchasing gasoline to operate your automobile for a month and any alternatives available to you assuming your net income available to make those p READ MORE »
Do the firms in an oligopoly act independently or interdependently? Explain your answer.
A monopolistically competitive firm has the following demand and cost structure in the short run:
OutPut Price FC VC TC TR Profit/Loss
0 $90 READ MORE »
Answer the following questions on the basis of three sets of data for the country of North Vaudeville:
a. Which set of data illustrates aggregate supply in the immediate short-run in North Vaudeville? The short run? The long run?
b. Assuming no change in hours of work, if real output per hour READ MORE »