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Recent research article entitled “Milk Manic” made headlines in South Africa. The article explains the significant health benefits one glass of milk per day. In only seven days you will become stronger and smarter, but milk super changes your immune system. The scientist father found that consuming a glass of milk a day as a cure for high blood pressure, anxiety and insomnia. 5.1. By the aid of a graph, illustrate and explain how the research article will affect the equilibrium price and quantity in the milk market.
Khalid used to be a DJ earning R500 000 a year, but he now works as a plumber. Each year, his direct costs are R185 000. This includes the annual electricity, water and levy bill of R82 000, and annual rent of R75 000. He has R120 000 of financial capital tied up in the business throughout the whole year, and the market interest rate is 8.5%. His annual revenue as a plumber is R900 000. Which of the following statements is correct?
Log (earnings) = 4.016 + 0.092 . educi + 0.079 .expei + 0.002 . experi 2
( 0.222) ( 0.008) ( 0.025) (0.001)
log ( earnings )I = β1 + β 2 ⋅ educI + β 3 ⋅ experI − β 4 ⋅ experI2 + β5 ⋅ abilityI + εI .
In this regression, what do you expect the sign of β5 (the coefficient on ability) to be?
a). What do you think the sign of the correlation between ability and years of education?
b). If we estimate the regression function with ability included, do you think that the
estimated value of β 2 will be greater or less than what it was in the regression without ability? Explain.
In your opinion, should local industries in south be protected against world competition?(25 marks)
Critically discuss the negative and positive of covid-19 on the south African economy? (25 marks)
On contrary, why should retailers such as fruit and veg not keep too much inventory? (10)
Why should electricity generation plants (Eskom) keep more stock rather than less stock?
What would we expect to happen to the market when the government imposes a price floor below equilibrium?
Given the demand curve for commodity as Q=60-3p where Q is the quantity demanded and P the price per unit . Determine the price elasticity of demand at P= 10
a. During 2009, incomes fell sharply due to the financial crisis of 2008-2009. This change likely led to a decrease in the prices of both normal and inferior goods.
Complete the following sentence: If marginal revenue is positive, total revenue __________; where marginal revenue is zero, total revenue reaches a ________; and when marginal revenue becomes
negative, total revenue __________.
