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Microeconomics
analyse the market impact for Country A's tertiary education because of country B's price decrease in education using the following point 1. identify which curve (supply or demand)will be affected
Microeconomics
• Based on your new-found knowledge of economics, which sectors of the economy were most adversely affected by these developments in South Africa?
Microeconomics
The trend line for sales of postcards ( in million) is estimated using annual data from 1980 t0 2004.
The result is st = 10 (1.05)^t.
(a) what is the interpretation of the "10" and the term in parentheses ?
(b) Forecast sales of postcards in 2008.
The result is st = 10 (1.05)^t.
(a) what is the interpretation of the "10" and the term in parentheses ?
(b) Forecast sales of postcards in 2008.
Microeconomics
The trend for sales of cottage cheese is estimated using data from the first quarter of 1972 to the fourth quarter of 2004. The result is as shown below with the f-value in parentheses:
St = 12.5 + 0.14t (3.28)
a. What is the interpretation of the coefficient of t ? Is the coefficient statistically significant at the 95 percent level ? Explain
b. Forecast the demand for cottage cheese in the third quarter of 2006.
St = 12.5 + 0.14t (3.28)
a. What is the interpretation of the coefficient of t ? Is the coefficient statistically significant at the 95 percent level ? Explain
b. Forecast the demand for cottage cheese in the third quarter of 2006.
Microeconomics
The production function for Baroda Foods Ltd. is
Q = 20K 0.5 L 0.5
The initial prices of the input are W = 20 and r = 30.
Under the labor contract with a national union, at least the current employment level of 300 workers must be maintained through the next production period. ( However, more workers can be hired if necessary).
( a) in the previous production period, the firm produced 4,899 units of output. Assuming efficient production, what was the rate of capital input ?
( b) Because of the national recession, the desired level of output for the next production period is only 4,000 units. what is the optimal rate of capital input ?
Q = 20K 0.5 L 0.5
The initial prices of the input are W = 20 and r = 30.
Under the labor contract with a national union, at least the current employment level of 300 workers must be maintained through the next production period. ( However, more workers can be hired if necessary).
( a) in the previous production period, the firm produced 4,899 units of output. Assuming efficient production, what was the rate of capital input ?
( b) Because of the national recession, the desired level of output for the next production period is only 4,000 units. what is the optimal rate of capital input ?
Microeconomics
A nation with fixed quantities of resources is able to produce any of the following combinations of carpet and carpet looms:
Yards of carpet
(Millions)
Carpet looms
(Thousands)
100100
00
8080
1515
6060
2727
4040
3636
2020
4242
00
4545
These figures assume that a certain number of previously produced looms are available in the current period for producing carpet.
1.) Using the multipoint curve drawing tool, plot the six points that make up the PPF given in the table above (with carpet on the vertical axis). Properly label your curve.
Carefully follow the instructions above and only draw the required object.
Yards of carpet
(Millions)
Carpet looms
(Thousands)
100100
00
8080
1515
6060
2727
4040
3636
2020
4242
00
4545
These figures assume that a certain number of previously produced looms are available in the current period for producing carpet.
1.) Using the multipoint curve drawing tool, plot the six points that make up the PPF given in the table above (with carpet on the vertical axis). Properly label your curve.
Carefully follow the instructions above and only draw the required object.
Microeconomics
Suppose the oil price in world market is $60 per gallon,the u.s domestic demand curve of oil is Qd=200-2q and a domestic supply curve is Qs=p
a) if u.s government imposes a tariff of$15 per gallon,what will be the US price amd the level of import?How much revenue will the government earn from tariff?How large is the dead weight loss?
b)if the US government has no tariff but imposes an import quota of 25,what will be the domestic price?what is the cost of the quota for US consumers of the oil?what is the gain for US producers?
a) if u.s government imposes a tariff of$15 per gallon,what will be the US price amd the level of import?How much revenue will the government earn from tariff?How large is the dead weight loss?
b)if the US government has no tariff but imposes an import quota of 25,what will be the domestic price?what is the cost of the quota for US consumers of the oil?what is the gain for US producers?
Microeconomics
To prove the intra industry trade theory empirically which assumption has been altered as compared to the HOS model.
Microeconomics
Determine the average function for each of the following total functions:
a. Total Revenue = 100Q-Q^2
b. Total cost = 1,000 + 10Q + 0.01Q^2
c. Total Profit = 50Q - 0.1Q^2 - 1,000
a. Total Revenue = 100Q-Q^2
b. Total cost = 1,000 + 10Q + 0.01Q^2
c. Total Profit = 50Q - 0.1Q^2 - 1,000
Microeconomics
Given the firm demand function Q = 55 - 0.5P
(where P = Price and Q = rate of output), and the total cost function
TC = 20 + Q + 0.2Q^2
where TC = Total cost, determine
(a) The Total revenue function for the firm.(Hint: To find the total revenue function,solve the demand function for P and then multiply both sides of the equation by Q.)
(b) The marginal revenue and marginal cost functions and find the rate of output for which marginal revenue equals marginal cost.
(c) An equation for profit by subtracting the total cost function form the total revenue function. Find the level of output that maximizes total profit. Compare your answer to that obtained in part (b). Is there any corrrespondence between these answers?
(where P = Price and Q = rate of output), and the total cost function
TC = 20 + Q + 0.2Q^2
where TC = Total cost, determine
(a) The Total revenue function for the firm.(Hint: To find the total revenue function,solve the demand function for P and then multiply both sides of the equation by Q.)
(b) The marginal revenue and marginal cost functions and find the rate of output for which marginal revenue equals marginal cost.
(c) An equation for profit by subtracting the total cost function form the total revenue function. Find the level of output that maximizes total profit. Compare your answer to that obtained in part (b). Is there any corrrespondence between these answers?
