Search & Filtering
Use the following functions that show quantity demanded and quantity supplied to answer the question
Qd=600 - 30P
Qs=-300 +120P
If the price is R8, then there will be a surplus of ______ units.
Use the following functions that show quantity demanded and quantity supplied to answer the questions
Qd=600 - 30P
Qs=-300 + 120P
What are the equilibrium quantity
If tge equation for a market demand curve is Qd=100-0,5P and the equation for a market supply curve is Qs=-20+P, the market equilibrium price is
A farmer has 50 hectares of land and 120 hours of labour. He can produce either maize or soyabeans. It takes an acre of land and 3 hours of labour to produce an acre of maize. A hectare of maize costs R154,00 to produce. It yields 7,5 tonnes per hectare, and as a consequence it generates a net profit of R56,00 per hectare. On the other hand, if a farmer produces soyabeans, it takes an acre of land and 2 hours of labour to produce an acre of soyabeans. It costs R133,00 to produce an acre of soyabeans An acre of soyabeans yields 30 tonnes and generates a profit of R47,00 per acre.
draw a budget line :
A B C D E F
x 0 4 8 12 16 20
y 10 8 6 4 2 0
What is demand
Two major sellers Suzuki and Honda rule Pakistan’s automobile market as the oligopolistic market. They jointly determine the price and output each firm would charge. However, if each firm constitutes its own self-interest they can maximizes their profit. Either of the company can produce one car, while the values in the matrix shows the profit for respective car. Use game theoryto answer the questions.
Honda
Suzuki
Accord
City
Alto
15,000
30,000
70,000
90,000
Celerio
50,000
35,000
102,000
83,000
a. Explain the game theory between Honda and Suzuki in the given context.2 Marks
b. If Suzuki wants to assemble Alto and Honda assembles City, how much profit will Honda get?1 Mark
In Pakistan internet service is ought to be considered as the perfectly competitive industry. Following is the information available for the internet service provider A operating in the market.
Total output
Total Cost
180
10
280
20
400
30
530
40
670
50
820
60
980
70
1150
a. Briefly discuss the characteristics of the market Service Provider A is operating.2 Marks
b. If the market price of the fruit is 166 Marks
i. Find how much output will the firm produce (Show calculations).2 Marks
ii. Illustrate it graphically2Marks
iii. Find if the firm is maximizing profit or minimizing loss (show calculations) and highlight the same in the graph drawn in part ii. 1 Mark
iv. From your answer in part iii, explain if the firm is operating in the LR or SR. 1 Mark
Suppose that the income elasticity of demand for new houses is 2.3. If consumer incomes increase by 2 percent, you could expect the quantity of new houses to
Assume the marginal utility of good X is 10, the price of X is $5, the marginal utility of good Y is 25, and the price of Y is $25. What should the consumer do to maximize his/her utility?
Buy more X and less Y.
