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Assume that the prices of good X, Y and Z are as follows R5, R1 and R4 respectively, and the Judith has an income of R37 to spend. How much of each good will Judith consume in order to maximise her utility? What will be her total utility and marginal utility of the last rand spent on each good? Show all your calculations.
. Consider the items that you and/or your family purchase most often. How does
competition affect the price and the quantity, as well as the quality, of the things that
you or your family buy?
Make a study of the wage or salary situation. In the occupation that interests you. How
much will you earn in your chosen field? What explains the wage or salary rate? Are
wages and salaries higher in one area than in another? If so, what accounts for the
difference? (Are the costs of living higher in one area than in the other, for example?)
your school and/or your neighbourhood. How are you affected by these activities either
directly or indirectly? How do these activities illustrate things discussed in Chapter 1 of
your textbook?
How does nike manage their cost of production and became successful?
There are two goods in the economy good 1 and good 2 how does the budget line change if the price of good 1 decreases by a dollar but the price of good 2 and the consumers income remain unchanged
Explain how adidas manages their cost of production and became successful?
An increase in Abi's income decreases her demand for Dvd's. For her , DVD's is [A]good
Illustrate when a government intervenes in a competitive labor market to change the unfair
outcome of the market determined wages by taking the policy of price Floor under binding
constraint. Also evaluate the adverse effects for labor market of this policy.
What is the another word for micro economics
