Microeconomics questions and answers in November 2021

Which  of the following is one of the  five fundamental questions? A) Who will get the output B) Should  these products be free to the public C) Which government agency should decide on output amou...
You want to explore the attitudes of your students toward working in groups. Describe how you would construct a survey to carry out this action research project. Be sure to address the following: The ...
Suppose the income elasticity of demand for toys is -2.5. This means that   a 3 percent increase in income will decrease the purchase of toys by 1.2 percent. a 3 percent increase in income will decre...
Answer the question based on the following data.   Price Per Unit Quantity Demanded Per Unit of Time $ 20 12 18 17 16 20 14 24 12 30 10 36 8 40 6 44 4 48   What is the price elasticity of demand ove...
Hilary and Maria are roommates. They spend most of their time studying (of course), but they leave some time for their favorite activities: making pizza and brewing root beer. Hilary takes 4 hours to ...