Ask Economics Question

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You are welcome to ask questions on Economics.

I will post the answer on this blog, for everyone to benefit from.

I shall try to answer the economics question and / or point to other resources but please bear in mind.

  1. The replies will be guidance and not for duplication. Your essays should always be your own work.
  2. My speciality is economics for British A Level standard. My university economics is rusty in parts, because generally I don’t use it in teaching A level economics.
  3. I can’t guarantee to always give answers it also depends on my time schedule.
  4. The aim is not to do people’s homework for them, but, help in the understanding of economic concepts.
  5. The answers will not necessarily be complete. I know several of my essays on this site could be improved.
  6. Please Write the Questions clearly and with proper spelling. Some questions I have not answered because they were not clear what was meant.
  7. I will answer as a new post. Check home page of blog for new post. With question and answers

I studied PPE at Lady Margaret Hall college, Oxford University, and currently work as an Economics A Level teacher. I have also examined several different economic units for Edexcel AS and A2.

If you find the information useful, you are welcome to buy me a coffee 🙂

579 thoughts on “Ask Economics Question”

  1. compare how does perfect competition and monopoly respond over the long run if abnormal profits ae made in the short run

  2. Can you explain what does it mean by excess capacity theorem in a monopolist competitive market? Why long-run equilibrium is attained not at the lowest average cost?

  3. assume that the united states contributes disproportionately more resources to the defense of western europe then do other NATO allies m and as a consequence these other countries can invest a larger share of their resources in capital and other goods and services. usa production possibilities curves to show both short- and long consequences regarding the economies of the united states and western europe

  4. How do loans increase the money supply?
    How exactly do loans from banks result in “new money”?

  6. Use appropriate diagram(s) or examples to illustrate to explain why the Classical view assumes that aggregate demand is not effective on output and employment?

  9. Assuming that a firm faces an inelastic demand and wants to increase its total revenue, in what direction should it change its price? Is there any limit to how far it should go in changing its price in this direction?

  10. Suppose a perfectly competitive industry is characterized by negative economic profits in the short-run .Explain with the aid of graphs,the sequence of events that will occur in the long-run within this competitive industry.

  11. using clearly labelled diagrams demonstrate the impacts oa an introduction of a minimum wage policy in Zimbabwe

  13. What Is The Whole AD mean cuz i aint got a clue what your on about.

    im doing the business a2 exam this year and its about the recession and economy so is it a need to know?

  14. consider a perfectly competitive industry with 160 identical firms.the short run and log run cost functions of a typical firm are:
    C (SR) = 4q+2q square so that MC= 4 +4q

    C (LR) 10+4q+2q square so that MC=4+4q

    where q is the output for an individual firm.
    Market Demand for the industry product is
    Qd=660-P
    where P is the price of the product and Q is the output for industry.
    a.what is the long run supply curve of an individual firm?please explain how you proceed.

    b. In the long run, there are a potentially infinite number of identical firms that can enter the industry.
    What is the long run market supply curve for the industry?
    compute the long run equilibrim price?
    how much does each firm produce in this long run equilibrium and how many active firms are there in the market?please explain how you proceed.

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