Axiomatic foundations of expected utility theory; (b)Non EX. theories: basic models Applications: (a) Consumption CAMP; (b) Inequality indices and income distribution 4. Topics in applied microeconomics 5. General Equilibrium Theory: The basic model Applications: Computability and some applications Background 1. I expect you to be familiar with the material covered by a standard undergraduate course in microeconomics, plus some basic math (differentiation, simple integration) and […]

The increase in prices of Subs, after factory-gate taxes, will be as much as RSI 35,000, she added. Data Motors, suffered its worst decline in the fiscal, with a 70 per cent drop to Just 10,613 units sold in February. Sales of the Anna, Indict and the Indigo range stood at 7,769 units while 2,844 units of the Sumo, Safari, Aria and Venture range were […]

Prices of Onion (Dish and Indian) go up due to shortage of supply 1 . Introduction: Microeconomic theory is perhaps the most important course in all economics and business programs. I am Just trying to discuss about the role of theory or models in microeconomics, discuss the basic methodology of economics, and distinguish between positive and normative analysis. Our main target in this assignment is […]

Patent is defined as the bundle of rights of an investor or his assignee to have “exclusive rights” granted by the state for a fixed given time in trade for a discovery of an invention (Freeadvice.com 2008: 1). Based from this definition of patent, it is already clear that an individual can have the freedom to solely produce a certain good given that he/she invented […]

BGP 2008 Term I Microeconomics End Term Full marks 30 Time 2 hours 1 . This question contains two parts a. In era of hyperinflation, what would be the appropriate strategy for firms in the airlines and automobile sector to cope up with both competitiveness in the market and rising cost 5 b. Read the following answer the following questions Textbook publishers evaluate market size, […]

Microeconomics Chapter 21: The theory of consumer choice After developing the basic theory of consumer choice, we apply it to three questions about households decisions 1)Do all demand curves slope downward? 2)How do wages affect labour supply? 3)How do interest rates affect households saving? The budget constraint: What the consumer can afford -People consume less than they desire because their spending is constrained or limited […]

Today he has an income of 400 kopecks. Bread now costs him 20 kopecks a loaf and potatoes cost him 25 kopecks a sack. Assuming his preferences haven’t changed (and the sizes of loaves and sacks haven’t changed), when was he better off? A. He was equally well off in the two periods. B. He is better off today. C. He was better off 20 […]

Most of us have always wondered why this always happen when they visit a barber. This is just because of the economic concept. The cost of operations in shaving the beards is even more because more care is needed while shaving and different customers have different styles on how they it to be shaved. This wastes time and energy and to pay for this, the […]

Introductory* Micro*economics 316-102 *Sem 1*,2010 Assignment 2: Genevieve Blanch QUESTION 1. Externalities in this situation exist where the Government, Country or Private Organisation decides to launch a new satellite causing costs and benefits to other members of society which do not impact on the G,C or PO. Such externalities include: NEGATIVE (Costs to other members of society) Hazard to the useful working satellites that surround […]

Microeconomics for Business Decision Theory of Market Demand: The quantities of a product that people are willing and able to purchase at various prices during some specific time period, sisters periods. 1 QED = f(Pix, ad, income (normal good, inferior good), Pother (substitutes, complements), consumer expectation, regulations, number of buyers,…… ) . All factors except Pix either shift or rotate the Demand for good x. […]