Ecn 104 - Study guides, Class notes & Summaries

ECN 104 Microeconomics Final Test Questions and Correct Answers 100% Guaranteed Pass Perfect Competition Characteristics - Answer- - very large # of sellers - standardized product - "price takers" - perfectly elastic demand - demand graphs as horizontal line Monopoly Characteristics - Answer- - single seller - no close substitutes - price maker - blocked entry - non-price competition Monopolistic Competition Characteristics - Answer- many sellers, product differentia...

1. Suppose Adam is deciding what mode of transportation to take to get to work in the morning. If Adam decides to take the subway, which of the following is an explicit cost of his decision? Answer: the $2.50 it costs to ride the subway 2. Suppose a firm has annual revenue of $600,000 from producing cars. Alternatively, the firm could produce only the Engines and earn revenue equal to 100,000. Assume that the firm's annual raw materials costs are equal to 400,000 and that the rent it pays...

ECN 104 Microeconomics Questions and Answers 2024

Suppose Adam is deciding what mode of transportation to take to get to work in the morning. If Adam decides to take a taxi, which of the following is an explicit cost of his decision? Question 1 options: The loss of exercise he gets when he walks to work (assume exercise gives him positive benefit) The $2.50 it costs to ride the subway. The value he gets from commuting with his wife who also takes the subway None of the above are explicit costs ...

(FINAL)Effect of Covid-19 on European firms and economies.

ECN 253 Case Study Report 1: THREE JAYS CORPORATION (complete solution) (Due: 11:55 PM, June 26th) Hi Dihn: Please find this annotated write-up and my Excel spreadsheet. My comments are in RED font below. I suggested them for Q1-Q2 and Q3-Q4 together for better flow of logic. Your final score (now available on Canvas) is shown at the end of this document. As this was the first case analysis of the course, I have graded your write-up based on your ideas and supporting logic, not whethe...

ECN 104 Microeconomics Krugman 3rd Edition Test Bank