📘 microeconomics

1. **Problem statement:** We have three types of watches sold at price $p$: new originals (100 units, reservation price 775), used (200 units, reservation price 400), and fakes (30

1. **State the problem:** We have a monopoly producing two goods with given cost functions and inverse demand functions. We need to determine if the goods are substitutes or comple

1. The problem asks: What is the supply curve of the monopolist firm shown in the figure? 2. In microeconomics, a monopolist does not have a supply curve in the traditional sense b

1. **Problem statement:** A firm produces quantity $q \geq 0$ with inverse demand $p(q) = 30 - q$ and total cost $C(q) = 50 + 4q + \frac{1}{2}q^2$.

1. **Problem statement:** A firm produces quantity $q \geq 0$ with inverse demand $p(q) = 30 - q$ and total cost $C(q) = 50 + 4q + \frac{1}{2}q^2$.

1. **Problem statement:** a) Deduce the budget equation for a housewife with 56 FCFA to spend on meat (X) and rice (Y), each costing 8 FCFA per kilogram.

1. The problem involves understanding the graph with indifference curves I1, I2, I3 and a budget line in a 2D coordinate system where the X-axis is "Good X" and the Y-axis is "Good

1. The problem involves understanding the graph with indifference curves I1, I2, I3 and a budget line in a 2D coordinate system where the X-axis is "Good X" and the Y-axis is "Good

1. **Problem Statement:** We need to understand and explain the Marginal Cost (MC), Average Variable Cost (AVC), and Average Total Cost (ATC) curves, their relationships, and why M

1. **Problem statement:** The firm sells output at price $P=120$. We need to decide if the firm should produce in the short run given two scenarios for average variable cost (AVC)

1. **State the problem:** We have a firm with Fixed Cost (FC) = 1000 and Variable Cost (VC) = 50Q + 2Q^2.

1. The problem asks to illustrate the effect of change in price and wealth on consumer choice and state the restrictions on comparative statics. 2. Consumer choice is typically ana

1. **Problem statement:** We have a monopolistic firm producing two goods with inverse demand functions:

1. The problem is to find the values of $x_1$ and $x_2$ given the utility function $$U(x_1, x_2) = (4 + x_1) \cdot x_2$$ and the utility level $u = 1300$, with prices $P_1 = 2$ and

1. **Problem Statement:** We need to define oligopoly, explain the Dominant Firm Price Leader model theoretically and graphically, and then solve for the price set by the leader fi

1. **Problem statement:** A person has 120 to spend on two goods X and Y with prices 3 and 5 respectively. 2. **Budget line formula:** The budget line equation is $$3X + 5Y = 120$$

1. **Problem statement:** A person has 120 to spend on two goods X and Y with prices 3 and 5 respectively. 2. **Budget line formula:** The budget line equation is given by $$3X + 5

1. **Problem Statement:** Given the total cost function $$TC = 100 - 12Q + 0.6Q^2$$, find the output level where marginal cost (MC) equals average variable cost (AVC). Also find to

1. **Problem statement:** We have a production function $$y = x_1^{0.5} x_2^{0.25}$$ where $x_1$ and $x_2$ are inputs.

1. **Problem statement:** A consumer buys goods $x$ and $y$ with prices $p_x=400$ and $p_y=500$, and income $m=10000$. We need to:

1. **State the problem:** Two firms A and B form a cartel to maximize joint profit. Their cost functions are: $$C_1 = 20x_1 + 2x_1^2$$