# Problems in Microeconomics

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## Product description

1. If the value of the coefficient of cross-elasticity of demand for commodity and the price of goods B is 0.7, and the value of the coefficient of elasticity of demand for commodity and income equal to 0.8, then a one percent increase in the price of the product B and one percent increase in income consumer demand:
a) increase;
b) decrease;
c) does not change;
d) nothing definite can be said.

2. Patties replace rolls in consumption and oil supplements. What happens in the relevant markets if the price drops buns?
a) the price of oil will fall and pies;
b) increase the price of pies, and the price of oil will go down;
c) the price will fall pies "and oil will rise;
g) patties and oil prices rise.

3-6. In all these tasks, the following data:
A good number of price and revenue benefits Used Price
1000 5 200000 1000
1000 7 300000 1000
1000 7 200000 800
800 7 200000 1000

3. Based on the above information, we can conclude:
a) A and B are substitutes, while the A - normal good;
b) A and B are complementary benefits "But at the same time - a normal good;
c) A and B - substitutes, with good A is the lowest category;
d) A and B - are complementary goods "And at the same time is a boon lowest category.

4. Under these conditions, the absolute value of the price elastichnos¬ti demand for the product A is:
a) 0.67; b) 1.0; c) 1.5; g) 1.95.

5. In this case, the income elasticity of demand:
a) less than zero;
6) is zero;
c) greater than zero but less than unity;
d) greater than one.

6. Using these data, we can conclude that the cross-elasticity of demand (EAB) in the module is equal to:
a) 1.95; b) 1.5; c) 1.0; g) 0.67.

7. When the volume of manufacture 20 units AU are equal to 8. When the volume of the issue increased to 21 units, the speaker began to 9. In this case, MS 21st unit are:
a) 29;
6) 1;
c) 9;
d) the information is not enough.

Q TC FC VC AC AFC AVC MC
0 20

9. Mr. Brown lives in his own house 200m2. He decided to resign from his job where he gets \$ 2 thousand. Per month (for simplicity we assume that the entire amount he received at the end of the year), and to organize their own company, making outerwear. Brown bought the equipment and materials in the amount of \$ 10 thousand. And \$ 5 thousand. Respectively. For this he used their own savings (\$ 5 thousand.), And a bank loan of \$ 10 thousand. (For 1 year). In addition, he highlighted in his home studio rooms with a total area of \u200b\u200b100 m2. In the region, where Mr. Brown, the rent is \$ 250 per 1 m per year. Interest on the loan is 20% per annum on deposits of citizens - 12% per year. Brown hired four tailors salary of each of which is equal to \$ 1 thousand. Per month (for simplicity we assume that the entire amount they are paid at the end of the year). On average, each capable of tailors sew 25 per month. Average price per dress is \$ 95.5. Determine the annual economic and accounting costs of Mr Brown. What are the economic and accounting profit Mr Brown?

10. We consider a competitive firm P = 6; TVC = 160; TFC = 120; AC = 7, AVC = min. Decide what should be done to the firm in the short term:
a) to increase the volume of production;
b) to reduce the volume of production;
c) leave unchanged the volume of production;
d) to close the plant.

11. We consider a competitive firm: Q = 20; TR = 1000; TVC = 940; TFC = 140; MS = 50; MS - increase. Decide what should be done to the firm in the short term:
a) to increase the volume of production;
b) to reduce the volume of production;
c) leave unchanged the volume of production;
d) to close the plant.

12. If the issue of the company is optimal, its average costs are equal to 20, and 21 are equal to marginal cost, this company:
b) suffers losses;
c) receives a zero economic profit;
d) nothing definite can be said.

13. The dependence of the total costs of the company (TC) rubles from the output (Q) units per day is a table:
Q 0 10 20 30 40 50
CU 0 75 95 140 200 280
At a price of goods, the company will cease its production in the long term:
a) 4.6; 6) 7.5; c) 5.0; d) 4.75.

14. If the unit price (P) is used rubles., What is the output (Q) will choose the company with the conditions? Data in Table 4 to the task.
a) 20; b) 30; c) 40; g) 50.

15. We consider the monopoly firm. TC = 70; FC == 20; TR = 100; P = 10; MR = 5; AVC = min. To determine what should be done in the short term the company:
a) to increase the volume of production;
b) to reduce the volume of production;
c) leave it at that;
d) to close the plant.

16. firms operating under imperfect competition produces the optimal amount of products. P = 5, MC = 4. In this case, the elasticity of demand is:
a) -1/5;
b) -5;
a) -1;
d) the information is not enough.

17. Selling equipment for the price of 120 thousand. USD. Per unit firm - a monopolist maximizes its profits. If the price elasticity of demand at this price is equal to - 1.5, what value at the same time make the marginal cost (MC) and marginal revenue (MR) thousand. USD. Respectively?
a) 40 and 40; b) 40 and 80; c) 80 and 80; d) 80 and 60.

18. Two firms - oligopolists decide on the price reduction. If they are both lower their prices, their profit will be reduced by 5 mln. Rubles. in year. If only one of them will reduce the price, its profit will increase by 10 mln. Rubles. per year, and the profit rival fell 6 mln. rubles. in year. In this case, the dominant strategy (maximin strategy) for each of the companies:
a) to increase the price;
b) lower the price;
c) does not change the price;
d) to agree with a competitor to hold a unified pricing policy;
d) there is no dominant strategy.

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