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Three threats that unions experience as a result of globalisation
Suppose the absolute values of the intercept and slope of the demand function
are approximated to be ten (10) and three (3) respectively. If the absolute
values of the intercept and slope of the supply function are assessed to be six (6),
and five (5) respectively, calculate equilibrium price and quantity (4 Marks)
- Suppose the intercept of the demand function increases by two (2), while the
slope remains the same. If the supply function remains the same, estimate the
new equilibrium price and quantity (4 Marks)
- Demonstrate graphically, the effect of the increase in the intercept of the
demand function in (b) above on the equilibrium quantity and price. What
generalization can you come up with from the resulting graphical analysis?
(7 Marks)
A firm’s short-run marginal product of labour function is 3 22 5. 2 MP L L Use indefinite integrals to solve for the total product function.What increase in the total product will be brought about by employing two additional units of labour if five units are currently hired?
what is market efficiency?
Assume that all perfectly competitive webpage design companies are selling identical services at $1000 per page. If each shop has a marginal cost curve written as MC =800 + 0.5Q, where Q equals the number of webpages designed each day, what is the profit-maximizing quantity of pages that each company will want to sell each day?
Given the following table, use the matrix method to derive the constant and slope parameters of the sample regression function: Marks = f(Weekly party hours). X (Weekly party hours) 2,4,6,8,10,12,14,16 Y (Marks) 80,77,71,67,66,58,49,36
Estimated the maximum potential sales for each product in the next quarter. Finally, the
accounting department has provided some data showing the profit contributions on each product.
The decision problem is to determine the product mix, that is, to maximise Ram's Furniture
Company's profit for the quarter by choosing production quantities for the chairs, desks and
tables. The table below summarises the parameters of the problems.
Hours per Unit
Department Chairs Desks Tables Hours
Available
Fabrication 4 6 2 1,850
Assembly 3 5 7 2,400
Shipping 3 2 4 1,500
Demand
Potential 360 300 100
Profit $15 $24 $18
What would happen if the profit contribution for chairs reaches $16.00 and
subsequently when it reaches $21.00? Show tabulated results and working
Qx=200-px+2py+.03y where px=10 py=15 y=1000.
Find the PED.
hot dogs are 5 pesos for a package of 10 pieces at the grocery store. at the basketball game they cost 5 each. using the concept of the elasticity of demand, explain why hot dogs cost more at basketball game. answer key
Fill in the blanks:
with the correct information. Suppose you are given the monthly variable cost of a bowling alley and told the cost of leasing the space is $200 a month. The output is the number of lanes that are open. When is the marginal cost minimized?
