Microeconomics for Business

Draw a production possibility curve and show the efficient and inefficient combinations of production of an economy on the curve?

State the factors causing leftward shift of supply curve of an apple farm.

Define advertisement elasticity of demand.

Why do indifference curves not intersect each other?

Derive isocost line when total cost outlay is Rs.4000, wage rate is Rs.200 and rental rate of capital is Rs.400.

Write the formula for calculation of marginal product of labor ($MP_L$) and average product of labor ($AP_L$).

Write the conditions for equilibrium of a firm in monopolistic market in short run.

Give examples of demand-increasing innovations in Innovation Theory of Profit.

A firm's average revenue is Rs.200, average cost is Rs.220 and average variable cost is Rs.175. The firm, suffering from loss, should shut down or stay in business in short run.

Make a list of internal diseconomies of scale.