cost analysis in microeconomics
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Прокрутите вниз 👇![[14.10.2021] [tasks for seminar from microeconomics] questions for review 1. a firm pays its accountant an annual retainer of $10,000. is this an economic cost? 2. the owner of a small retail store does her own accounting work. how would you measure the opportunity cost of her work? 3. please explain whether the following statements are true or false. a. if the owner of a business pays himself no salary, then the accounting cost is zero, but the economic cost is positive. b. a firm that has positive accounting profit does not necessarily have positive economic profit. c. if a firm hires a currently unemployed worker, the opportunity cost of utilizing the worker’s services is zero. exercises 1. joe quits his computer programming job, where he was earning a salary of $50,000 per year, to start his own computer software business in a building that he owns and was previously …](/media/previews/pages/p1_221121.webp "cost analysis in microeconomics - Страница 1")
![costs by $3000. write the new cost equation. [17.11.2021] [tasks for seminar from microeconomics] questions for review 1. what are the four basic assumptions about individual preferences? explain the significance or meaning of each? 2. why will a monopolist’s output increase if the government forces it to lower its price? if the government wants to set a price ceiling that maximizes the monopolist’s output, what price should it set? 3. what is meant by the term “monopsony power”? why might a firm have monopsony power even if it is not the only buyer in the market? 4. explain the meaning of a nash equilibrium. how does it differ from an equilibrium in dominant strategies? exercises 1. suppose that bridget and erin spend their incomes on two goods, food (f) and clothing (c). bridget’s preferences are represented by the utility function u(f,c) 10fc, while erin’s preferences are represented by the utility …](/media/previews/pages/p2_221121.webp "cost analysis in microeconomics - Страница 2")
![em (high), or a slower, low-quality system (low). market research indicates that the resulting profits to each firm for the alternative strategies are given by the following payoff matrix: 4. we can think of u.s. and japanese trade policies as a prisoners’ dilemma. the two countries are considering policies to open or close their import markets. the payoff matrix is shown below. [24.11.2021] [tasks for seminar from microeconomics] questions for review 1 what is the difference between economic profit and producer surplus? 2. why are isocost lines straight lines? 3. assume that the marginal cost of production is increasing. can you determine whether the average variable cost is increasing or decreasing? explain. 4. what is meant by the term “monopsony power”? why might a firm have monopsony power even if it is not the only buyer in the market? exercises 1. 4. suppose a firm must pay an annual tax, …](/media/previews/pages/p3_221121.webp "cost analysis in microeconomics - Страница 3")
![nt bundles of cds and dvds that he could choose. for this part of the question, assume that he cannot purchase fractional units. 4. we can think of u.s. and japanese trade policies as a prisoners’ dilemma. the two countries are considering policies to open or close their import markets. the payoff matrix is shown below. a. assume that each country knows the payoff matrix and believes that the other country will act in its own interest. does either country have a dominant strategy? what will be the equilibrium policies if each country acts rationally to maximize its welfare? b. how might this concern affect japan’s choice of strategy? how might this change the equilibrium? [microeconomics] nazariy savollar 1. xaridorlarning afzalliklari haqida to'rtta asosiy taxmin nima? har birining ahamiyatini yoki ma'nosini tushuntiring? 2. agar davlat monopolistning narxini pasaytirishga majbur qilsa, nima uchun monopolistning ishlab chiqarish hajmi oshadi? agar hukumat monopolistning …](/media/previews/pages/p4_221121.webp "cost analysis in microeconomics - Страница 4")
О "cost analysis in microeconomics"
[14.10.2021] [tasks for seminar from microeconomics] questions for review 1. a firm pays its accountant an annual retainer of $10,000. is this an economic cost? 2. the owner of a small retail store does her own accounting work. how would you measure the opportunity cost of her work? 3. please explain whether the following statements are true or false. a. if the owner of a business pays himself no salary, then the accounting cost is zero, but the economic cost is positive. b. a firm that has positive accounting profit does not necessarily have positive economic profit. c. if a firm hires a currently unemployed worker, the opportunity cost of utilizing the worker’s services is zero. exercises 1. joe quits …
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