Recommended for you
-
This post goes over the example problem of calculating consumer surplus from different scenarios. The scenario sets up by giving you a table... -
The law of supply is very similar to the law of demand, but focuses on the firm's perspective. The law says that as prices go up, the f... -
The decision to go to College (or where to go to College) is going to be one of the most important of your life. Whether you decide to go to...
-
Consider the following scenario: You decide to purchase a used car (or a house, or anything used for that matter) from a used car dealer. ... -
This post goes over a question recently asked about calculating opportunity costs given information similar to what is available in a PP...
-
Monetary Policy: Actions the Federal Reserve takes to control the money supply and interest rates in pursuit of macroeconomic polici... -
Sometimes you will be asked to define a price function. When you receive such a question, it is probably in regards to a supply and demand g...
-
Sometimes you can be asked to find the equilibrium value from the Keynesian Cross or the 45 degree line. This means that we have to find ... -
This post was updated in September 2018 with new information and examples. One of the things to do when analyzing a supply and dema... -
While dominant firm or price leadership models are not common in basic economic theory, there are some courses that do go over this concept....
Popular Posts
-
This post was updated in August 2018 to include new information and examples. This post goes over the economics and intuition of the IS... -
This post was updated in August 2018 to include new information and examples. This post asks the question of what happens in the market ... -
This post was updated in August 2018 to include new information and examples. At many points in the semester you will be asked to calcula... -
The following question pertains to the Cournot model of oligopoly. This post shows a trick for solving these best response functions with... -
One form of government intervention is the introduction of taxes. Taxes are typically introduced to increase government revenue, but they al... -
This economics question and answer goes over how to calculate changes in consumer and producer surplus with limited information. The qu... -
Advertising spending is one of those ambiguous areas of supply and demand theory where we don't really know exactly what will happ... -
This post was updated August 2018 with new information and examples. We all feel the pinch from an income tax on our lives, but how does... -
In economics, the solution to your problem or the equilibrium point in the economy is always going to occur where marginal benefit equals ma... -
In this post we go over the economics of monopoly pricing. We start with a demand function and a total cost function, and are able to fig...