Microeconomics questions.
Find Microeconomics university examination questions in acaproso.com
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| 1 | List the factors that change supply and shiftthe supply curve for agricultural products. Short answers |
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| 2 | Compare and contrast a price ceiling and a price floor. Short answers |
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| 3 | Outline the inefficiencies created by a price floor for an agricultural commodity. Short answers |
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| 4 | What is opportunity cost? Provide an example of opportunity cost that is not explicitly paid for Short answers |
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| 5 | Distinguish between marginal rate of technical substitution and returns to scale. Short answers |
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| 6 | What do you understand by the least cost combination criterion? Short answers |
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| 7 | What is economic theory? what do you need in principle to validate or falsify an economic theory? Short answers |
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| 8 | Distinguish betweeen arc and point elasticity of demand Short answers |
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| 9 | Use the information in the table below to compute elasticity coefficients between points on the demand schedule and explain clearly what these coefficients mean?.
Mathematical Calculation |
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| 10 | Write short notes on the following concepts: Use graphical illustrations where necessary.
Short answers |
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