10 Minute Micro Economics Questions

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?

a. 37

b. 150

c. 21

d. 75

e. None of the above.

Skills: Technical Writing

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About the Employer:
( 1 review ) hong kong, Hong Kong

Project ID: #1236640

2 freelancers are bidding on average $6/hour for this job


Hi,Lets start this.

$6 USD / hour
(8 Reviews)

Dear Adriek, I am very good in Microeconomics especially Intermediate Microeconomics where calculations are involved. Those two sample questions are easy. Please check me out for the job. Sincerely, Clarenc More

$6 USD / hour
(0 Reviews)