Economics of Enterprise Answers

Q=20 - I/2 P

•Where Q is the monthly quantity demanded of compact discs (CDs) in million and P is their price.

–Draw a demand curve given by this equation between CD prices of £1 and £20

–A new format results in a fall in demand of CDs of 5 million per month at any given price

–What is the new formula for quantity demanded of CDs? 

–Plot the new demand curve on your diagram.

The table shows the production of a firm.

Production (tonnes) Total Cost ($)

0 20

1 30

2 35

3 40

4 45

5 50

Calculate the Average Variable Cost (AVC) of producing 5 tonnes of output.

Demand and supply function in amarket are described by the equations

a) find the equilibrium prices and quantities (P,EQ & EQa)

b) show your answer using by graph

The supply function for a good can be written as Q = 2P + 10, where Q is the quantity supplied in Kilos and P is the Price in dollars.

The price falls from $15 to $10.

Calculate the price elasticity of supply (PES).

The economist for the Grand Corporation has estimated the company’s cost function, us-

ing time series data, to be where TC 5 Total cost

TC=50+16Q-2Q2 +0.2Q3 Q 5 Quantity produced per period

1. Plot this curve for quantities 1 to 10.
2. Calculate the average total cost, average variable cost, and marginal cost for these quan-
3. tities, and plot them on another graph.
4. Discuss your results in terms of decreasing, constant, and increasing marginal costs.
5. Does Grand’s cost function illustrate all these?

Instructions: Research on the assigned topic assigned to you.

Assigned topic : COOPERATIVES

Search for the following :

1. Existing business / enterprises in the Philippines.

2. Laws regulating these forms of business enterprises. 

3. Straight facts. 

d. Assuming the game is one-shoot game and Firm 1 moves first represent it in

extended form.

To decrease the trade deficit and to increase short run output, which of the following    could work ?

What factors militate against the effective compliance with continuous assessment standard by Economics teachers in South Africa?​​​​​​​

To combat the current difficult situation, the manager plans to curb the variable expenses and bring them to ₹500 per piece. Compute the new break-even point and contribution margin. Analyze and explain the movement in contribution margin to the manager