Economic behavior is more complex than assumed by conventional economic theory. Political economy explains the functioning of government. Behavioral economics ties psychology into human behavior. Economists assume that individuals make rational decisions. However real people are more complex. What are the human behaviors economists should observe when creating economic models? Example: people tend to find […]
Learning Goal: I’m working on a micro economics question and need an explanation and answer to help me learn. Watch the following PBS Frontline video on the financial industry and its involvement in the 401(k) retirement system and read the accompanying publication: http://www.pbs.org/wgbh/frontline/film/retirement-gamble/ (Links to an external site.) Write a minimum of at least three […]
A pharmaceutical company is the only seller of a prescription allergy medication. Demand for the drug in California is given by Q(P)=240-6P. The cost function is C(Q)=4Q. A. (5 points) Assume the company only sells the drug in California and that it charges a uniform price. Calculate the profit-maximizing quantity and price. Calculate the deadweight […]
Learning Goal: I’m working on a micro economics test / quiz prep and need an explanation and answer to help me learn. A pharmaceutical company is the only seller of a prescription allergy medication. Demand for the drug in California is given by Q(P)=240-6P. The cost function is C(Q)=4Q. A. Assume the company only sells […]
Learning Goal: I’m working on a micro economics test / quiz prep and need an explanation and answer to help me learn. A pharmaceutical company is the only seller of a prescription allergy medication. Demand for the drug in California is given by Q(P)=240-6P. The cost function is C(Q)=4Q. A. Assume the company only sells […]
Learning Goal: I’m working on a micro economics question and need an explanation and answer to help me learn. 1. For this question, I would like you practice calculating an elasticity.a. First think of a good or service with which you are familiar. What is the good?b. What is the current price for that good […]
Learning Goal: I’m working on a micro economics question and need an explanation and answer to help me learn. 1. For this question, I would like you practice calculating an elasticity.a. First think of a good or service with which you are familiar. What is the good?b. What is the current price for that good […]
Learning Goal: I’m working on a micro economics report and need support to help me learn.I already have a commentary done and I received some feedback from my teacher. I wish to have these feedback applied in my commentary. This is the article I used for this commentary:https://news.bloomberglaw.com/coronavirus/one-year…I will include the commentary that I already […]
Learning Goal: I’m working on a micro economics report and need support to help me learn.I already have a commentary done and I received some feedback from my teacher. I wish to have these feedback applied in my commentary. This is the article I used for this commentary:https://news.bloomberglaw.com/coronavirus/one-year…I will include the commentary that I already […]
Learning Goal: I’m working on a micro economics report and need support to help me learn.I already have a commentary done and I received some feedback from my teacher. I wish to have these feedback applied in my commentary. This is the article I used for this commentary:https://news.bloomberglaw.com/coronavirus/one-year…I will include the commentary that I already […]
