How can human psychology influence market outcomes?

A firm is considering increasing wages to attract more skilled workers. What should it consider to ensure this decision is economically viable?

A company wants to hire more workers. What microeconomic principle should it consider to determine the optimal number of workers?

How does microeconomics differ from macroeconomics in terms of focus?

Evaluate the effectiveness of rationing as a solution to scarcity.

Which strategy is most effective for a monopoly to maximize profit?

If the price of coffee increases, what is the likely effect on the supply and demand for coffee?

How does the imposition of a tax on a good affect its supply and demand?

What is a common consequence of a recession?

Which of the following is a key macroeconomic issue?