Basic Microeconomics.

Module 1: Introduction to Microeconomics Definition, Principles, and Division of Economics Positive vs. Normative Economics Fundamental economic problems Thinking like an economist Production Possibility Frontier Type of Economic Systems Module 2: Markets and Welfare The market forces of supply and demand Elasticity and its applications Market Equilibrium > Supply, Demand, and Government Policies Government Intervention in the Market and Welfare effects. Consumers, Producers, and the Efficiency of Markets Module 3: Consumer and Firms' Behavior The theory of Consumer Choice Indifference curves and budget line Total and Marginal Utility Utility Maximization The theory of Production Cost of Production Various Measures of Costs Costs in the short-run and long-run12:27 PM | 31.3KB/s X all all @ D 13% docs.google.com/fo AD 10 . . . type the answer (for identification). For item that consists identification type of question, your answer must be in whole numbers, which means NO DECIMAL POINT. At what point does the efficient * 2 points scale exists? SMC ATC AVC V 20 Y Z D X 10 Q 17 22 24 OY None of these options Ow O V O X Imagine a restaurant that serves * 2 points12:27 PM | 31 .3KBr's KL Imagine a restaurant that serves * 2 points only dinner. The restaurant has the following monthly costs: rent on building (P10,000); wages and salaries (P15,000): equipment, food. and supplies(P20,000); and electricity (P5,000). Meanwhile, the owner's foregone labor and interest income costs P50,000. The monthly income of the restaurant is P85,000. How much is the economic profit? 0 P50,000 0 4315.000 0 P100.UDU O P35,000 How much quantity of * 2 points n production does the firm achieves constant returns? I (Q