Join course

1666

Don't miss anything!

Join the course and get informed about new documents and questions

Join the course and get informed about new documents and questions

Discussion

Documents

Flashcards

++++++ Ask your Micro questions and an experienced Success Formula tutor will answer them as soon as possible ++++++
Any problems or questions while studying/preparing for Micro? Don't worry, we've got you covered!
Just post any of your questions in the Micro course on Studydrive (as a separate post, not as a comment) and our professional tutors will help you!!!
We wish you lots of success!
Your Success Formula Team

+1

No area was marked for this question

Anonymous Credit Card

1 month ago
- not marked in the document

I can't understand question 33?

Anonymous Notebook
1 month ago

q is the acres he moves and he needs to work 2 hours (L) to get 1 q if you where to use q=2L and plugging in 2 for L you would get 2 so you need to q=0.5 L and when you plug 2 in that should give you 1

SpaceCat
1519
1 month ago

MR=105-10q1-5q2=15
10q1=90-5q2
q1=9-0.5q2
q2=9-0.5q1
plug in each other and you get
0.75q1=4.5
q1=6

Anonymous Ferris Wheel
1 month ago

Already done, u got the week 2,3 and 4 here on study drive

-1

Anonymous Trump
1 month ago

A natural monopoly has a strictly decreasing average cost curve so it should be a

+1

Best Answer

Anonymous Letter

1 month ago

Can anyone help with the course assignment? stuck on some questions

No area was marked for this question

No area was marked for this question

Anonymous Knife

2 months ago
- not marked in the document

Can anyone help me to solve question 18?

SpaceCat
1519
updated 2 months ago

U=X+3Z which mean you get 1 point of utility from 1 good x and 3 points of utility from 1 good z.
Y=10, Px=0.5 and Pz=2
always try the two extremes first so max amount of one good and then max amount of other while the other is 0.
10=0.5x
x=20 and
10=2z
z=5, Put the quantities back into the utility function to see which combo gives most utility given budget constraint in this case its 20,
Other way is MRT=MRS

Anyone has has an econlab key that I can borrow? Please? First one who gives me the code gets a sandwhich at SBE. Thank you.
Message me +31640773190

-2

Anonymous Bang
2 months ago

a sandwich for a code worth 50 euros:/

+2

View 1 more comment

Anonymous Bang
2 months ago

Why is -2 + 0.67 = -1.2?

-3

Tc Cu
30
updated 2 months ago

MRuk= MRge
Puk(1+ 1/E) = Pge (1+ 1/E); Where E stands for elasticity
Puk=3Pge
For Germany;
Pge(1+1/-2)= 0.5 Pge
UK;
3Pge(1+1/E)= 0.5Pge times 2, divide by Pge
6+6/E =1
6/E = -5
Euk = -6/5= -1.2

+1

No area was marked for this question

Success Formula Wojtek
278
2 months ago

Hi Anonymous Letter,
I attach my solution. In this question, we first have to find the price that will arise in this monopoly and then use the formula for the Lerner Index
Hope that helps!
Best,
Your Success Formula Team - Wojtek

+2

Success Formula Wojtek
278
2 months ago

Hi Anonymous Letter,
Here, we see 3 different demand curves - one intersecting at q=10, one at q=20 and one at q=40. The differences arise here because of the different prices of snacks in each of the scenarios:
1) Intersection at 10 => buying 0 juice Bobby can afford 10 units of snacks. As he has 20 euros to spend, it means the price per unit of snacks is 20/10=2. Then, the demand is tangent to the utility function where q=5 so we find one point of his demand curve to be p=2, q=5.
2) Intersection at 20 => p=20/20=1. Then tangent to the utility for q=7. So p=1, q=7 another point on the demand curve.
3) Intersection at 40 => p=20/40=0.5. Then tangent to the utility for q=10. So p=0.5, q=10 another point on the demand curve.
Thus, we see that answer b is one of the possible points we found.
Hope that helps!
Best,
Your Success Formula Team - Wojtek

+2

No area was marked for this question

Anonymous Package

2 months ago
- not marked in the document

Can please anyone explain 51 and 52?

SpaceCat
1519
2 months ago

because the new supply equation is Qs=10+5(p-2) which is 10+5p-10
so Qs is 5p

No area was marked for this question

Anonymous Banana

2 months ago
- not marked in the document

q24?

SpaceCat
1519
2 months ago

He gets more utility from pizzas(exactly 10 more ) than from beer if he where to spend all his money on beer he could buy 10 which would give him 10 utils but if he where yo spend all his money on pizzas he would get 20 utils which is more than any other combinations

Anonymous Gas Pump

10 months ago

Can somebody please show the calculation?

View 1 more comment

Tc Cu
30
2 months ago

See ppt. week 7, slide 26
P=25-4Q; P=25-4(Qa-Qb) = 1 (residual demand = MC)
for Qb; (25-4Qa) - 4Qb
Rb; Qb(25-4Qa)- 4Qb^2 (Total revenue for b; P*Q)
MR; 25-4Qa -8Qb (derivative with respect to Qb)
MR=MC; 25-4Qa-8Qb=1
4Qa+8Qb=24
Qa=Qb 12Qb=24, Qa=Qb=2

+1

Anonymous Controller

2 months ago

SpaceCat
1519
2 months ago

you have to take the mr of the inverse demand not the normal demand function so its P=2000-2Q and MR is double the slope P=2000-4Q

+1

Anonymous Noodle Soup
2 months ago

What is the correct answer ?

SpaceCat
1519
2 months ago

plug q1 into q2 or the other way around
q1=4.5-0.5(4.5-.0.5q1)
q1=4.5-2.25+0.25q1
q1=2.25+0.25q1
0.75q1=2.25
q1=3=q2
P=12-(q1+q2)
P=12-(3+3)
P=6

+1

Felix Klinkenberg
680
2 months ago

The MR-curve is 12-Q (twice the slope of the inverse demand). You set MC = MR or Q^2 = 12-Q -> bring everything on one side (0 = Q^2 + Q - 12) and use the abc-formula to get Q = 3

+1