Other Economics Answers

The Board of Directors of SABMiller are usually viewed as _____________ stakeholders. 

SAB is aware of the damaging effect alcohol can have on its consumers and has implemented various programmes to counteract this. SAB therefore has a social driver behind their CSR programme.this means tha they are aware

1 that it is desirable for a company to be thought of as socially responsible

2 that there is specific legislation encouraging socially responsible behaviour

3 that main advantage is a reduction in costs

4 that a decision was made that clearly indicated what was right and what was wrong

In the long run, ____ firms will ____ the industry so that the market supply curve shifts to the _____, until prices ______ sufficiently so that all firms make a normal profit only.

•  A. new firms; enter; right; decrease.
•  B. new firms; enter; left; increase.
•  C. existing firms; exit; right; decrease.
•  D. existing firms; exit; left; increase.

• Economists assume that the goal of the firm is to A. maximise profits.
•  B. minimise implicit costs.
•  C. break-even in the long run.
•  D. maximise total revenue.

• A profit-maximising firm sells its product for R300, but continues to produce even though it is making a loss. This suggests that A. the average total cost is less than the price.
•  B. the average variable cost is less than the price.
•  C. the average fixed cost is less than the price.
•  D. the marginal cost is less than the price.

• At what price should a firm produce to maximise profits in a perfectly competitive market? A. where price equals average revenue
•  B. where price equals marginal revenue
•  C. where price equals marginal cost
•  D. where price equals total revenue

• A monopoly is a A. single buyer of raw materials.
•  B. large number of producers each with a small share of the total market output.
•  C. single seller of a product that has no close substitutes.
•  D. small group of producers with similar products.