If a product has an elasticity of supply of 0.5, what happens to the quantity supplied if the price increases by 10%?

If a government imposes a tax on sugary drinks, what is a potential outcome in the market for these drinks?

If a student chooses to spend an hour studying instead of working a part-time job that pays $10 per hour, what is the opportunity cost of studying?

In a market where the demand curve is P = 30 - 2Q and the supply curve is P = 10 + Q, what is the equilibrium quantity?

If the price elasticity of demand for a product is -2, what happens to the quantity demanded if the price increases by 5%?

Consider a city that implements a congestion charge to reduce traffic. Which microeconomic principle does this illustrate?

What is the equilibrium price in a market where the demand curve is P = 20 - Q and the supply curve is P = 5 + Q?

What is 'profit maximization' in the context of microeconomics?

What happens to the market price if there is an increase in demand while supply remains constant?

How do supply and demand interact to determine the market price of a good?