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Dominik [7]
3 years ago
12

Can someone describe Microeconomics and Macroeconomics in their own words?

Business
1 answer:
Vikentia [17]3 years ago
3 0

Answer:

microeconomics: The study of the behavior of individual households and firms in making decisions on the allocation of limited resources. Macroeconomics: The study of the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets.

Explanation:

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An oral auction has bidders willing to pay $4, $6, $9, $12, $13, and $15 for an item. The winning bidder will pay a little more
Fiesta28 [93]

Answer: $13.25

Explanation:

From the question, we are informed that an oral auction has bidders willing to pay $4, $6, $9, $12, $13, and $15 for an item.

Based on the above scenario, the winning bidder will pay a little more than $13 or $13.25. This is because the bidder with the highest pay is willing to pay $15 but since the next person is willing to pay $13, that means the next bidder will price it at an amount that is a little bit above $13 which is $13.25.

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3 years ago
Related to the Economics in Practice on page​ 77: If a hurricane results in the supply of hotel rooms decreasing and the demand
UkoKoshka [18]

Answer:

Increases; Ambiguous effect on equilibrium quantity

Explanation:

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This will shift the supply curve leftwards and demand curve rightwards, therefore as a result, there is an increase in the equilibrium prices and the effect of this change on the equilibrium quantity is ambiguous because that will be dependent upon the magnitude of the shifts of demand and supply curve.

5 0
2 years ago
HELP PLSSSSSS ECONMICS<br> qjhewdkvdfjndbc vjdsncxkjd
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Answer:

C. Country A would focus on growing carrots to trade with country country B.

Explanation:

Country A can produce twice as many carrots as country B. this indicates that country A seems to have a comparative advantage over Country B in carrot production. Both countries have equal capacity in the production of apples.

Country A should focus on producing carrots for sales to country B. It can produce double what country B can, meaning its production costs are lower. Country A can sell carrots to country B at a lower price than it would cost country B to produce its carrots. Therefore, country A would be prudent to focus on producing carrots and trade them to country B.

8 0
3 years ago
Cyclical unemployment is caused by business cycle fluctuations. reducing international trade barriers, which causes some industr
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Answer:

The correct answer is letter "A": business cycle fluctuations.

Explanation:

Cyclical unemployment refers to unemployment related to downturns in the economy. It tends to be temporary but the length depends on the level of contraction of the economy during a recession. This type of unemployment is typical of the natural increase and decrease cycle of a nation's growth.

6 0
3 years ago
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