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run cost function is given by:
TC= 1/3 Q3 + 3 Q2 + 10Q +40
if the market price of the commodity Is Birr 26 per unit.
A. Determine the profit maximizing Level of output
b, find AFC AC, AVC and MC of firm
at optimum level a output.
c, find maximum profit of the firm.
1. Show the effect of a wage decrease on an individual’s income-leisure choices. Isolate the income and substitution effects. Is the worker on the forward-rising or backward bending portion of the labor supply curve?
2. Indicate in each of the following instances whether specified events would cause a worker to want to work more or fewer hours:
(a) The wage rates rises and the substitution effect is greater than the income effect.
(b) The wage rate falls and the income effect is greater than the substitution effect.
If your consumption increases from $60,000/yr to $70,000/yr when your disposable income increases from $85,000 to $98,500/yr, calculate your MPC. *
development theories ,mostly those developed by economists from developed economies are foundations for economic policies in many developing countries,they however have shortcomings.
critically discuss the above statement with regard to the Solow growth model.
1.1. what do you understand by the concept economic aid
1.2.disccuss the advantages and disadvantages if foreign aid
C = 145 + 0.67 Yd, where Yd is disposable income.
a. Interpret what the figures 145 and 0.67 imply in the Consumption equation.
b. What is the associated Savings function? What do the intercept and slope mean?
c. Sketch the savings and the associated consumption functions.
d. Compute the level of consumption if income (Yd) is GHS 200.
6. What is Money Illusion?
7. Explain three fiscal policy tools of the government.
8. Using examples, explain the three motives of peopleà ¢ s demand for money.
10.
a. What is the money multiplier?
b. How do we derive the money multiplier?
c. What is the magnitude in the money multiplier?
d. What accounts for this magnitude?
Explore 05 yearly data of the following indicators with respect to Pakistan in graphical as well as tabular form, summarize the 05-year economic performance of Pakistan with the help of your data also elaborate the reasons for ups and downs in these factors.
a) Gross Domestic Product (GDP)
b) Gross National Product (GNP)
#340153 on Dec 2023