Microeconomics Questions

Which of the following will cause an increase in demand for a good?

If for a perfectly competitive firm, price is Rs. 60, output is 300 units, average variable costs are Rs. 18, and average total costs are Rs. 36. The firm's profits are equal to ______.

Which of the following will cause an increase in demand for a good?

Match the characteristics with their market structure:
(a) Price > MC in both short and long run
(b) Faces highly elastic demand

If demand curve for alphonso mangoes is D=25000−70P and supply curve is S=10000+80P, find the equilibrium quantity?

Match the characteristics with their market structure:
(a) A single, homogeneous product with no close substitutes
(b) Few sellers with interdependent pricing and quantity decision

Which of the following is false about minimum wages?

If price of an article decreases from Rs 800 to Rs 750, when quantity demanded increases from $Q_1$ units to 2250 units, and if point elasticity of demand is $-2$ find $Q_1$?