Economics of Enterprise Answers

The price of rubber which is used to produce tyres reduces. 

Select an existing motor carrier company operating in South Africa and answer the following. 

1. Describe the company in light of the following:

- What sector do they serve?

- The type of market structure they are operating in.

(15 marks) please provide intext reference as well as references.

A sports collector is considering the purchase of either a hockey jersey or a baseball that was struck for a home run. If the collector chooses to purchase the jersey, what is the opportunity cost?

Draw a production function that exhibits diminishing marginal product of

labor (be sure to label the axes).Explain the shapes of the curves you have

drawn

For each of the following statements, draw a diagram that illustrates the likely effect on the market for Toyota cars. Indicate in each case the impact on equilibrium price and equilibrium quantity with full explanation. 

 A successful advertising of Toyota cars.

For each of the following statements, draw a diagram that illustrates the likely effect on the market for Toyota cars. Indicate in each case the impact on equilibrium price and equilibrium quantity with full explanation.

a. A Mechanic Engineer warns that new Toyota cars overheats during long journeys.

b. The price of rubber which is used to produce tyres reduces.

c. A fall in the price of Nissan cars.

d. A rise in bus tariffs .

e. A successful advertising of Toyota cars.

A Mechanic Engineer warns that new Toyota cars overheats during long journeys.

5. (a) While computing Gross Domestic Product (GDP) how the following cases should be handled? 6 (i) Arong has produced 1000 leather bags among which only 500 bags could be sold. They stored rest of the bags for future sale. How the value of these unsold bags will be added to GDP? (ii) “Take-out” is a name of a burger shop. On an average the price of their burger is 250 taka. While adding the value of a burger to the GDP as food product, should 250 taka be added as the value of each burger? How is the final value of a burger added to GDP? (iii) Mr. Rafiq owns a duplex house and lives there. He bought it in 2010. How the value of his housing asset will be added to the GDP in 2020? (b) In comparing of the living standard of people among different countries, why GDP is not a proper estimate? Logically write about this problem.