/r/microeconomics

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A place to really, really discuss truly serious economics from any school of thought.

/r/microeconomics

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2

Recommendation for easy to understand Microeconomics fundamentals

I am an English Literature Hons grad. Would like to understand the fundamentals of Microeconomics. Please suggest relevant books. Thank you!

2 Comments
2024/11/25
10:40 UTC

0

i need recommendations please

I am in ap microeconomics and have the ability to essentially cheat on every test, what is the best paid, or unpaid ai question answerer to best my chances of getting every questions right. please dont comment something like "oh jonny cant you just take it seriously and study?" no i will not be doing that.

1 Comment
2024/11/21
05:28 UTC

1

I need help with these questions please!

  1. What is total revenue from sales if Acme chooses a price of $6.00?
  2. When Acme was in competition they produced 12 units. What is the highest price Acme could charge now if they wanted to sell 12 units?
  3. If Acme is a profit-maximizing single-price monopolist, how many units will they choose to produce?
  4. At the level of output that maximizes profits, what will the Marginal Cost be?
  5. At the profit-maximizing output, what is the average cost of each of the units produced? (round off to the penny)
  6. What is the maximum price that can be charged for each unit when the profit-maximizing output quantity is produced?
  7. Using the answers to previous questions, what is the average profit per unit when the profit maximizing output is produced and sold?
  8. How much profit (total) will this firm make when it maximizes profit in the short-run?
  9. In comparing the results of this worksheet with those of the previous worksheet (Acme in Perfect Competition), what effect has achieving a monopoly had on Acme’s profits? (order of answers may be different in learning mgt system)
    1. Increased profits?
    2. Lowered profits?
    3. Profits are unchanged.
  10. In comparing the results of this worksheet with those of the previous worksheet (Acme in Perfect Competition), what effect has achieving a monopoly had on Acme’s customers?
  11. they pay higher prices and buy fewer units
  12. pay higher prices and buy more units
  13. pay lower prices and buy fewer units
  14. pay lower prices and buy more units

https://preview.redd.it/agojzky6t22e1.jpg?width=4032&format=pjpg&auto=webp&s=6953f01ec0dfbc2a8eea7e2f76e0f27c667bf0a1

0 Comments
2024/11/20
15:36 UTC

1

Unable to create Intermediate Microeconomics Notes in LaTeX

I want to create Microeconomics notes in Latex like I do for maths but it's not as good, I use Chatgpt to create these notes. I give chatgpt screenshots or book chapter pdf and I tell it to create notes but I don't know they never come out well, what to do ?

1 Comment
2024/11/12
19:54 UTC

3

Solve this for $5 dollar cash app

If demand elasticity is -0.25 and a binding minimum wage rises from $12 to $20, use the midpoint formula to calculate what happens to employment in % terms. Show your work. Put this result in a S&D diagram - raise the wage from $12 to $20 and show q1 and q2 (you do not have to use numbers for quantity - just q1 and q2).

0 Comments
2024/11/09
18:44 UTC

1

anyone got pdf Parkin, M. Microeconomics 11th edition ?

0 Comments
2024/11/08
06:12 UTC

4

I made a YouTube channel to make AP Econ easy

Hey all! I made a simplistic YouTube channel where I break down AP Econ topics in short, entertaining videos that are easy to follow along. I took both Macro and Micro in highschool scoring 5s on both the exams and I am currently majoring in economics at UC Berkley.

Here's a link to the channel: https://www.youtube.com/@easyecon2/videos

Reply/Comment with any topics that you want me to cover. Any Macro or Micro topic is fine.

0 Comments
2024/10/28
02:00 UTC

2

Spreadsheet for Econ

Hi I am having trouble with my economics subject I was wondering if anyone had a spreadsheet which would help me solve the equations/visualise the graphs?

2 Comments
2024/10/27
07:16 UTC

1

Help

Hi I was wondering if you guys could give me some tips on how to do well in microeconomics

2 Comments
2024/10/23
00:48 UTC

2

Envelope Theorem

Hi there!

I'm, having a bit of trouble with Envelope Theorem. Intuitively, I get it, and when someone works it out in front of me I get what they are doing. But when it comes to setting up the theorem in a problem myself, I am getting stuck and getting my answers wrong every time. If someone has an easy explanation that I can follow, or has any good ways of remembering how to set it up - I'd be really grateful for your help!

Thanks!!

0 Comments
2024/10/21
09:45 UTC

2

explain why the prices of used cars rose rapidly between 2020 and 2022? what demand factors and supply factors were the reason?

0 Comments
2024/10/20
00:27 UTC

3

College student about to take a principles of microeconomics course. Any advice/tips?

1 Comment
2024/10/17
02:12 UTC

3

My Song for Homo Economicus

I made this song based off of Birth Of Rap- by Lil B, these the lryics, whats should I change to make it more economicsy or is it good?

[Intro]

(Girl Voice)

Just for now, just for now, just for now

Just for now, just for now, just for now

It's that time of year

Leave all that irrationality aside

If just for a little while

(Man)

Lil Dre, Econ God

[Verse 1]

I’m living life like Homo E-con-o-mi-cus,

Calculating utils, man, I’m serious.

Walking to Safeway, chicken tenders, they ain't glorious,

Monday’s 8 utils, by Friday, it’s laborious.

Five bucks a day, what a waste, I can see,

Spending all that cash? Nah, ain't for me.

Marginal utility, that’s the game we play,

Each tender’s worth less, what more can I say?

Cancel that subscription, ain't touched in months,

Paramount+, PlayStation, had enough.

Now I’m stacking my paper, watching it rise,

MacBook in hand, utility stays high.

9 utils an hour, oh yeah, I’m proud,

Compared to tenders? Yo, I’m on a cloud.

Every hour I use it, I just get more,

Feels like an investment, straight to the core.

[Chorus]

Homo Economicus, I’m living that way,

Maximize my life, keep the waste at bay.

Cash in my wallet, decisions on the line,

No more spending, I’m saving for just the right time.

Homo Economicus, yeah, that’s the path,

Maximize the utils, do the econ math.

[Verse 2]

Now when I’m cooking, I know what’s best,

My friend’s cleaning? Yeah, that’s less stress.

Comparative advantage, it’s clear to see,

I make the food, he cleans up after me.

It’s all about the trade-offs, use that time,

We specialize, and efficiency climbs.

Thirty bucks a week, nah, I’m cutting that down,

No more hotbars, I ain’t playing around.

Now it’s twenty-five in three weeks, whoa!

Subscriptions cancelled, I’m on a roll.

Utility per dollar? I’m keeping it real,

Save for the MacBook, that’s the better deal.

Each dollar saved now? Yeah, it’s worth more,

Invest in my future, so i wont be poor.

[Chorus]

Homo Economicus, I’m living that way,

Maximize my life, keep the waste at bay.

Cash in my wallet, decisions on the line,

No more spending, I’m saving for just the right time.

Homo Economicus, yeah, that’s the path,

Maximize the utils, do the econ math.

[Outro]

Homo Economicus, it’s how we do,

Every move I make, calculated and true.

Spending? Nah, I’ve got my eye on the prize,

Utils on utils, watch my life rise.

So next time you buy, think twice, you see,

Be a Homo Economicus kinda like me.

We out!

0 Comments
2024/10/08
05:23 UTC

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