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Why is the public sector wage bill a problem in SA
Brief explanation of the public sector wage bill
How the budget line shift due to price changeof good Y when the price of good X remain the same
A firm has a production function given by f(x1,x2,x3,x4)=min{2x1+x2,x3+2x4}. What is the cost function for this technology?
15. Suppose Anna has R5 pocket money to spend on cookies and rusks. Both cookies and rusks cost R1 each at the local bakery. The following table presents Anna’s total utilities of cookies and rusks respectively. Use the information provided and indicate which one of the following statements is correct. Units Total utility from cookies Total utility from rusks 0 0 0 1 10 14 2 18 24 3 24 32 4 28 38 [1] When spending her total pocket money of R5 on cookies and rusks, Anna is in equilibrium when she buys two cookies and two rusks. [2] Anna will be in equilibrium if her total utility is equal to 66 utils. [3] When spending her total pocket money of R5 on cookies and rusks, Anna is in equilibrium when she buys two cookies and three rusks. [4] If the price of cookies increases to R1,50, Anna will buy more cookies and fewer rusks.
11. If the income elasticity of demand for a product is 1.0, and if consumers’ income increases by 10%, the proportion of income spent on this product ………….. [1] P = 6.67 and Q = 300. [2] P = 20 and Q = 300. [3] P = 3 and Q = 275. [4] P = 2 and Q = 500
8. Which of the following statement(s) is/are correct about firm costs? [1] The marginal cost is always less than the average total cost. [2] The marginal cost is always more than the average variable cost. [3] As output increases, the gap between average total and average variable cost widens. [4] The marginal cost cuts the average variable and average total costs at their minimum.
The production function of firm A is given by where K and L represent capital and labour respectively. 9. Which of the following statement(s) is/are correct about the production function? [1] The production function has increasing returns to scale. [2] The production function has constant returns to scale. [3] The production function has decreasing returns to scale. [4] The production function has constant economies of scope.
1.Discuss the assertion that there can be growth without development.Note words should not exceed 700
