📘 microeconomics

1. **Problem Statement:** Given the marginal cost (MC), average total cost (ATC), and marginal revenue (MR) curves for a perfectly competitive firm, analyze the firm's economic pro

1. **Problem Statement:** We analyze the impact of a surge in demand for apples due to a new organic apple juice drink on the short-run and long-run supply curves in a perfectly co

1. **Problem Statement:** We want to understand the conditions in a competitive market where firms earn economic profits and whether this situation can persist in the long run.

1. **Consumer's Equilibrium in Ordinal Utility** Consumer's equilibrium occurs when a consumer maximizes their satisfaction given their budget constraint. In ordinal utility, this

1. **Problem Statement:** We analyze a single firm's equilibrium price and quantity in a perfectly competitive oil market using producer theory.

1. **State the problem:** We are given a firm's total cost at different quantities and a fixed price per unit of 7.00. We need to find the firm's profit level in the short run.

1. **State the problem:** We are given that at output $Q=3$, the average variable cost (AVC) is 10,000 and the average total cost (ATC) is 12,000. We need to find the average fixed

1. **Problem 27:** A perfectly competitive firm produces 3,000 units at a total cost of 36000. Fixed cost is 20000. Price per unit is 10. Should the firm continue to produce in the

1. **Problem Statement:** Draw indifference curve diagrams showing the income consumption curve (ICC) for three cases:

1. **Problem Statement:** We have two firms in a duopoly with demand functions:

1. **Problem Statement:** We need to find the Bertrand equilibrium prices for two firms where firm 1 has a marginal cost of $30$ per unit and firm 2 has a marginal cost of $10$ per

1. **Problem statement:** We have two identical duopoly firms with constant marginal costs of 10 per unit. Firm 1's demand function is $q_1 = 100 - 2p_1 + p_2$ and Firm 2's demand

1. **State the problem:** We need to compute and interpret the Price Elasticity of Demand (PED) for Coffee using the given price and quantity data before and after a price change.

1. **State the problem:** Calculate the Price Elasticity of Demand (PED) as the price of T-Shirts increases from $8 to $14 when income is $15M. 2. **Recall the formula for PED:**

1. Problem statement. You asked for drawings of the Income Consumption Curve (ICC) in three cases and a full decomposition of the price effect for a normal good, with clear labels

1. Problem Statement: Graph the Income Consumption Curve (ICC) for three cases and decompose the Price Effect for a normal good.

1. Το πρόβλημα ζητά να βρούμε τη συνάρτηση κερδών μιας μονοπωλιακής επιχείρησης με συνάρτηση ζήτησης $$Q=50-2P$$ και κόστος ανά μονάδα 10, σταθερό κόστος 3. 2. Αρχικά, εκφράζουμε τ

1. **Δήλωση του προβλήματος:** Έχουμε τη συνάρτηση ζήτησης $Q = 50 - 2P$, όπου $Q$ είναι η ζητούμενη ποσότητα και $P$ η τιμή.

1. **Problem Statement:** Analyze the three-stage optimization problem involving quantities $q$, $q^*$ and wages $w$, $w^*$ with objective functions and first-order conditions (FOC

1. The problem asks for the total utility at the optimal consumption bundle given quantities and utilities of tulips and pizzas. 2. The optimal consumption bundle is where the tota

1. The problem asks for the total utility at the optimal bundle consumption. 2. To find the total utility, we need the utility function and the optimal consumption bundle (quantiti