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What is the 3 causes of lower income in Malaysia?
. The soccer board persuaded government to impose a price floor of $40 per ticket of soccer game
which is above the equilibrium price of $35. As a result of this policy, do more or fewer people will
attend soccer game and what problem may arise? Briefly discuss with a graph.
Suppose that the firm operates in a perfectly competitive market. The market price of its product is $10. The firm estimates its cost of production with the following cost function: TC= -4Q2+Q3 + 10Q + 2
A) What level of output should the firm produce to maximize its profit?
B) Determine the level of profit at equilibrium.
C) What minimum price is required by the firm to stay in the market?
- Market research shows that for an increase in price by $1/kg, quantity demand decreased by 250 Kg.
- In addition, when the price is $1/kg, 1500 Kg of apple is demanded in the country
what is Qdx?
Role of artificial intelligence in modern economy
Which of the following statements are positive and
which are normative:
a An increase in productivity will increase living
standards.
b The government should raise taxes and spend the
money on providing additional healthcare services.
c Unemployment is efficient under some
circumstances.
d Everyone should give to charity.
You plan to upgrade your computer skills by taking a training course this summer. If you do, you won’t be able to take your usual job that pays a6,000 for the summer and you won’t be able to live at home for free. The cost of your tuition will be a2,000, equipment a200 and living costs a1,400. What is the opportunity cost of your summer training course?
Judy’s and Dan’s demand schedules for cola are: Quantity demanded by Price Judy Dan (cents per carton) (cartons per week) 10 12 6 30 9 5 50 6 4 70 3 3 90 1 2 If Judy and Dan are the only two individuals, what is the market demand for cola?
The estimated production of an organisation is 500000 units. The standard man hours required to produce each unit is 5 hours. The past experience show that the workability of each employee in a man hours is 2000 hours per year . How many workers are required to produce estimated units
It has been reported that the world demand for chocolate is increasing at a time when the supply of cocoa beans, the raw ingredient required to produce chocolate, is not as large as expected. Explain, with the help of a diagram, the likely effects of these changes on the world market for chocolate products.
