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The slope for the Mexico PPF is 1/4 indicating that 4 units of guns are given up for each 1 unit of butter produced
a) The article identifies a number of factors behind the recent increase in the price of
aluminium. Mention these factors and indicate whether they are demand-side or supplyside
factors.
b) With the aid of a well-labeled diagram, illustrate the effects of the factors identified
in part (a) above on the equilibrium price and quantity of aluminium. Pay attention to
the statement in the article that “Supply constraints, however, have been more
important” when drawing your diagram.
X and Y are substitute to one another what happen when price of a substitute increases, show its effects on the demand of the other goods.
What will happen to the demand curve of commodity X when price of a substitute increase.
Q1. Show what will happen to the demand curve of commodity X when price of a substitute increases.
Q2. X and Y are substitute to one another what happen when price of a substitute increases, show its effects on the demand of the other goods.
Q3. If money income increases what will happen in the demand of the commodity X?
Q4. If money income decreases what will happen in the demand of the commodity X?
For an enterprise is given the following table, each worker earns a daily compensation of $80.
Number of Labour TP AP MP
0 0
1 8
2 14
3 18
4 25
5 30
6 32
(I) Calculate AP, MP, AVC, MC, and show your calculations.
(II) Represent in two different graphs the AP and MP(first graph) and AVC and MC (second graph).
(III) Compare MP and MC curves. Indicate similarities and differences.
(IV) Find at which point labor productivity starts to decline and explain why this happens?
600 words total
By giving examples describe what happens when we have a lack of competition in a monopolistic market?
By giving examples describe what happens when there is a lack of substitutes in a monopolistic market?
For an enterprise is given the following table, each worker earns a daily
compensation of $80.
Number of Labour TP AP MP
0 0
1 8
2 14
3 18
4 25
5 30
6 32(I) Calculate AP, MP, AVC, MC, and show your calculations.
(II) Represent in two different graphs the AP and MP(first graph) and AVC and MC (second graph)
(III) Compare MP and MC curves. Indicate similarities and differences.
(IV) Find at which point labor productivity starts to decline and explain why this happens?
Explain each answer, please
Given the on-going pandemic, the sale of Willis cleaning
products jumped 15% to Rs. 425 million and increased income by 28%.
Household sales surged 7% and profits rose 65% as both prices and
demand increased and a germ-averse public stocked up. Assume yourself
as an ambitious manager of Willis cleaning products, who wants to use
these changes in the 4th quarter to calculate the own-price elasticity of
demand. You have the data on changes in price and changes in quantity
sold during the quarter.
1. What would be the main challenge they would face in calculating a
reliable estimate of elasticity?
2. Suppose for the 3rd quarter this challenge did not exist, rather the
challenge was one of data availability. All the manager knows, a few
minutes before a quickly called meeting to discuss 3rd quarter
results, is that the price of a pack of 35-count Clorox Wipes increased
by 12% while revenue from those wipes increased by 5%. Calculate
the own-price elasticity of demand for Clorox Wipes in this quarter.
For an enterprise, each worker gets $50 per day and the constant cost of this
enterprise is $300. Find the Average Product (AP), Marginal Product (MP),
Variable Cost (VC), Total Cost (TC), and Marginal Cost (MC). Show all of your
calculations.
Number of Labor Total Product
0 0
1 3
2 6
3 8
4 10
5 11
Explain each answers please
