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Microeconomics questions.

Microeconomics questions.

Find Microeconomics university examination questions in acaproso.com

# Question
1

Give brief description about the following cost industries.

  1. Constant cost industry
  2. Increasing cost industry
  3. Decreasing  cost industry

Short answers
2

A farm has a cost function given by C(y)=10y2 +1000. What is its supply curve?


Mathematical Calculation
3

If a firm has the cost function by C(y)=10y2 +1000. At what output is average cost minimized?


Mathematical Calculation
4

If the supply curve is given by Qs=100+20p, what is the formula for the inverse supply curve?


Mathematical Calculation
5

By citing examples briefly outline features of Oligopolistic and Monopolistic competitive industries in East Africa.


Short answers
6

Use the following demand schedule to determine Total revenue and Marginal revenue for each possible level of sales.

Quantity Demanded(Kg) Product Price(Tshs) Total Revenue Marginal revenue
0 2    
1 2    
2 2    
3 2    
4 2    
5 2    
  1. What can you conclude about the structure of the industry in which this firm is operating? Explain.
  2. Graph the Demand , Total-revenue, and Marginal-revenue curves for this firm.
  3. Why do the Demand and Marginal -revenue curves coincide?

Short answers
7

What are the necessary conditions for a Monopolist to be successiful in practicing price discrimination?


Short answers
8

The price system and the government play different roles in a free market economy. Discuss the economic roles played by the government.


Short answers