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Answer following questions, based on the following information on national income accounts of hypothetical economy: GDP $12,000 Gross investment 1,000 Net investment 600 Net Export 3,000 Government expenditure 1,000 Government budget balance 2,000 Net factor payment from abroad -2,000 Indirect Business Tax 2,00
A. Find the utility maximizing combination of x and y
B. Calculate marginal rate of substitution of x for y (MRSX,Y) at equilibrium and interpret for your result
Find the minimum value of AVC and MC
1.2 In 2020, New Horizons Ltd (a hardware retail company) sold 20 000 units of its product and reported net sales of R3 600 000. New Horizons purchased the 20 000 units of its product from its manufacturer in 2020 at an average cost of R400 per unit. Operating expenses (excluding depreciation) for New Horizons Ltd in 2020 were R300 000 and depreciation expense was R150 000. New Horizons had R2 500 000 in debt outstanding throughout all of 2010. This debt carried an average interest rate of 9 percent. Finally, New Horizons’s tax rate was 40 percent. New Horizons’ fiscal year runs from January 1 through December 31. Given this information, construct New Horizons’ 2020 income statement.
2.4 Write a proposal to the Minister of Trade and Industrialisation on how she can empower the youth that are currently street vendors to become big entrepreneurs. Concentrate more on the types of products she should concentrate on and what she should practically do to assist them to grow in their businesses. (8 marks
Discuss the advantages of the command economic system over the capitalist economic system.
(b) Ten students got the following percentage of marks in Economics and Statistics.
Apply KARL PEARSON’S method Calculate the coefficient of correlation.
1. Given the utility function of the form: U (x, y) = 4x2 + 3xy + 6y2: maximize utility subject to the budget constraint: x + y = 56. Then find the utility maximizing level of output x and y?
Assume a wheat producing farmer engaging in selling its product under perfect competition market faces cost functions as TC= Q3 -2Q2 +8Q and Average revenue of the farmer is given as Birr 8. Having this information, A. Determine the optimal level of output and price in the short run. B. Calculate the economic profit (loss) the farmer will obtain (incur) C. What will be the minimum price level the farmer gets to continue in wheat production?
Assume a wheat producing farmer engaging in selling its product under perfect competition market faces cost functions as TC= Q3 -2Q2 +8Q and Average revenue of the farmer is given as Birr 8. Having this information, A. Determine the optimal level of output and price in the short run. B. Calculate the economic profit (loss) the farmer will obtain (incur) C. What will be the minimum price level the farmer gets to continue in wheat production?
Assume a wheat producing farmer engaging in selling its product under perfect competition market faces cost functions as TC= Q3 -2Q2 +8Q and Average revenue of the farmer is given as Birr 8. Having this information, A. Determine the optimal level of output and price in the short run. B. Calculate the economic profit (loss) the farmer will obtain (incur) C. What will be the minimum price level the farmer gets to continue in wheat production?
