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A multiplant monopolist can produce her output in either of two plants. Having sold all of her output she discovers that the marginal cost in plant 1 is R30 while the marginal cost in plant 2 is R20. To maximize profits the firm will
In the circular flow of income and spending in south africa , ___ firms in the factor market becomes ___ households, while ___ households in the goods market becomes ___ firms.
Using supply and demand diagrams, explain each of the following statements:
(A) Banning onion exports should decrease the domestic price of onions.
(B) Banning single use plastic will increase the price of cloth bags
what is microeconomy
Explain the two characteristics of the Cobb Douglas production
function that make it particularly useful to macroeconomists
A researcher estimated the following equations in the demand and supply of shirts. D=200-25p S=16+11p. Calculate the equilibrium price and quantity.
A consumer consuming two commodities X and Y has the following utility function U=XY+2X. If the price of the two commodities are 4 and 2 respectively and his/her
budget is birr 60. (2pts)
A. Find the quantities of good X and Y which will maximize utility.
B. Find the MRSxy at optimum.
Aconsumer consuming two commodities x and y has the following utility functions U= xy + 2z. If the price of the two commodities are 4 and 2 respectively and his/her budget is birr 60.
Find the quantities of good x and y which with miximize utility
Find the MRSxy at optimum
Explain the background of Proton and Honda
Imagine a society that produces “guns” (military goods) and “butter” (consumer goods).
(1) Please draw a PPF for guns and butter, using the concept of opportunity cost.
(2) Suppose that the society has two political parties, called the Hawks (who want a strong military and the Doves (who want a smaller military). Show a point on your PPF that the Hawks might choose and a point that the Doves might choose.
