Economics of Enterprise Answers

We were assigned the running in place project and one of the questions our teacher asked was “Why shouldn’t I just buy the products from other businesses instead of paying households?”

Fathiyya deposits RM6,000 into a money market account which pays interest at a rate of 10% per year. What will the amount in the account be after 10 years?

Spending by local government can be regarded as ?

The demand equation for a product is given by
P=30-0.1q2 .
(a)At what point price is demand inelastic?
(b)at what price is demand unitary elastic

what is the effect on society of the following traditional system

Assume that demand and supply for a product over a period of time, respectively, are:

Qdx = 15 – 0.5Px and Qsx = 0.25Px – 3.



Calculate the equilibrium price and quantity. Clearly show your steps and manual calculations.

Quantify and discuss the impact of imposing a price of $20 per unit on the market, including the full economic price paid by consumers. Clearly show your steps and manual calculations.

If government should impose a $8 excise tax on the product, determine the new equilibrium price and quantity. Clearly show your steps and manual calculations. Graphically illustrate your answer.

Calculate the amount of tax revenue that government would earn with $8 excise tax. Clearly show your steps and manual calculations.

Assume that the demand for a product X is:
Qdx = 4,500 – 0.5Px + Py – 6Pz + 0.05M,
where Px is unit price of product X,
Py is unit price of product Y,
Pz is unit price of product Z, and
M is average income of consumers of product X.

Determine the relationship between (i) products X and Y and (ii) products X and Z, i.e., determine whether Y and Z are substitutes or complements for product X. Provide a justification for each case.
Determine whether product X is a normal or an inferior good. Explain.
Given that Py = $4,760, Pz = $85, and M = $75,000, derive the inverse demand function for product X. Clearly show your steps and calculations.
Graph the demand curve for product X.
Determine the size of the consumer surplus at $10,500 per unit price of X. Clearly show your steps and manual calculations.

With the increase in price of tomato from Rs. 40 per kg to Rs. 80 per kg in
super market, the demand for tomato has gone down from 40 kg to 20 kg.
Calculate the demand elasticity

Explain th economic impact of narrowing yield gap - he difference between the 90 day Bill rate and the 10yr bond rate

i need your Assistance
I was ask to give Five reason why economics is considered as science and social science subject