Economics of Enterprise Answers

He demanded and supply equetions for commodity Y are represented by
D=20-1/6p
S=18-1/8p
Required given that equlibrum price and quantity for commodity Y in a price market.

Having economic data is good for historical knowledge, but it is also essential to attempt to predict future economic activity. Based on the information you found in task 1, compose a 200- to 300-word essay that predicts what you think will happen to the economy in the next year. Use at least five statistics you recorded in task 1 to justify your answer.

Evaluate the possible disadvantages of a free market approach to providing
health care.

1. Rob supplies an input to Pete, the value of which depends on Rob’s effort e. Exerting effort costs Rob 1⁄2.e^2, however it generates revenue/return of 20e. What is the surplus-maximising level of effort e?
a. 5
b. 10
c. 20
d. 2
e. None of the above
2. Rob supplies an input to Pete, the value of which depends on Rob’s effort e. Exerting effort costs Rob 1⁄2.e^2, however it generates revenue/return of 20e. After Rob has invested his effort (which is sunk), but before the revenue Pete enters negotiates about how to share this return. Pete is a skillful negotiator, so will capture 3⁄4 of the return. What level of e does Rob invest?
a. 5
b. 10
c. 20
d. 2
e. None of the above

Suppose an economy (Home) produces only two goods- Magnets and Neckties. Both goods require both capital and labour to produce. Assume capital and labour cannot be substituted for one another in the production process. The economy has 600 units of capital and 800 units of labour available. It takes 4 units of labour and 2 units of capital to make each Magnet and 2 units of labour and 6 units of capital to make each Necktie

The causes and the associated defect frequency in a process for a month are reported follows:
Case (frequency): A (78), B (), C (), D (), E (162), F (), I (125), J (9), K (8), L (18), M (10), N (5), O (3), P (2),
Analyze the data using Pareto diagram to find significant causes of nonconformance in the product

Which market segment ____ they usually ____ ?

1. Government decides to spend $30 billion on defense and $40 billion education. Plot this combination on the PPC. a. Describe the point you have drawn on the graph. b. Is this a desirable combination of the two goods for the US to chose? Why or Why not?

in 2002 South African Government introduced the minimum wage for domestic workers with effect from 1st January 2019 it has been revised to R15 per hour with the exception of workers working fewer hours in certain areas.
Write the aid of diagram discuss the welfare effects of such a policy if the wage rate(assuming this is R12 per hour)

Explain how resources are allocated in a market economic system