I'd like to find someone who can finish a very short Micro Economics assignment which contains 6 MC questions , 6 True or False questions and 4 short problems.
Apart from answers, I need a short explanation (10-40 words) for all of them.
Applicants please specify the hourly rate and how much time do you need.
Here are two sample questions.
3. A firm has the production function f(X, Y) = X1/2Y1/2, where X is the amount of factor x used and Y is the amount of factor y used. On a diagram we put X on the horizontal axis and Y on the vertical axis. We draw some isoquants. Now we draw a straight line on the graph and we notice that wherever this line meets an isoquant, the isoquant has a slope of -3. The straight line we drew
a. is vertical.
b. is horizontal.
c. is a ray through the origin with slope 3.
d. is a ray through the origin with slope 1/3.
e. has a negative slope.
4. A competitive firm produces output using three fixed factors and one variable factor. The firm’s short-run production function is q = 305x - 2x2, where x is the amount of variable factor used. The price of the output is $2 per unit and the price of the variable factor is $10 per unit. In the short run, how many units of x should the firm use?
e. None of the above.