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If the equation for a market demand curve is Qd = 15 – 0,2P and the equation for a market supply curve is Qs = ̶ 1 + 0,6P, the market equilibrium price and quantity are?
If the equation for a market demand curve is Qd = 15 – 0,2P and the equation for a market supply curve is Qs = ̶ 1 + 0,6P, the market equilibrium price and quantity are?
QUESTION 2
Babasiga.com, the online bookseller, wants to increase its total revenue. One strategy is to offer a 10% discount on every book it sells. Babasiga.com knows that its customers can be divided into two distinct groups according to their likely responses to the discount. The accompanying table shows how the two groups respond to the discount.
Group A
(sales per week)
Group B
(sales per week)
Volume of sales before the 10% discount
1.55 million
1.50 million
Volume of sales after the 10% discount
1.65 million
1.70 Million
a.Using the midpoint method, calculate the price elasticities of demand for group A and group B
(3Marks)
Workshop supervisor
F. Frans is the workshop supervisor of NBW. She is paid a fixed salary monthly of N$10000. To keep her motivated she is entitled to an annually bonus of N$9000. NBW contributes N$9000 to her pension fund annually. She works 9 hours per day from Monday to Friday every week. She is also entitled to 28 days paid vacation leave. There are 12 public holidays in the year for which 9 fall on weekends. Assume a 365 days year.
Required:
Using information relating to F. Frans compute Frans s hourly tariff per hour
Spray painter :Jaco Manetti is employed as a spray painter at NBW on a contract. Since Jaco is on contract he opted to be paid his wage on a daily basis. As such he is remunerated on a differential piecework system based on the number of panels he sprays on a day. His supervisor is responsible for the allocation of panels to be worked on a particular. The supervisor ensures that the panels allocated would ensure a fair remuneration for Jaco.
Standard time allowed: 20 minutes per panel
Standard work day: 9 hours
Normal Wage rate: N$36 per hour
Premium: 90% of piecework rate if below standard
120% of piecework rate if standard or above standard
Jaco s production for the day: 32 units
Required:
Calculate the remuneration for Jaco for the day using the differential piecework system.
Quarter 2020 Unit purchased Cost per unit Total Purchases (N$) Units sold
1 300 30 9000 300
2 400 35 14000 300
3 400 36 14400 300
4 300 37 11100 300
1400 48500 1200
Inventory at the beginning of the 1st quarter was 500 units at N$29 per unit and inventory at the end of 4th quarter was 700 units.
Required:
2.1 FIFO method calculate the cost of good sold
2.2 LIFO method calculate the cost of good sold
2.3What is the gross profit for the year based on FIFO cost of sales figures given a marginal of 20%
2.4Re - order Level
2.5Mininmum inventory level
For the following indicate whether it is a direct , indirect or period cost as well as whether it is fixed or variable.
Salaries
Factory workers
Factory management
Accounting Directors
Factory equipment
Office equipment
Buildings
Purchases from creditors
Raw material
Water and electricity
Factory
Office
Other
cleaners ( office) (fixed rate as per contract)
Entertainment (amount is spend every year)
External audit fees as per contract
1. Describe the various complementary products, both goods and services, that a consumer may consider in buying a computer system
The industry V receives units of primary inputs, industry W receives of primary inputs
and industry X receives of primary inputs.
Determine the total output of each industry
and their final demands. (20 marks)
Find the marginal cost functions for each of the following average cost functions.
a) AC = 1.5Q + 4 + 46
𝑄
b) AC =
160
𝑄
+ 5 - 3Q + 2Q2
