Other Economics Answers

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

If a perfectly competitive firm’s marginal cost is greater than its marginal revenue at its current level of production, what must the firm do to increase its profit?

•  A. Increase its output.
•  B. Decrease its output.
•  C. Increase the price of its product.
•  D. Reduce the price of its product.

• A perfectly competitive firm is described as a market with A. many buyers, many sellers and the production of homogenous goods.
•  B. a few firms producing differentiated goods.
•  C. a large number of firms that each individually sets the price of their goods.
•  D. a few buyers, many sellers and the production of differentiated goods.

• If a firm in a perfectly competitive industry raises its price above the market price _____. A. all other firms in the industry will follow.
•  B. sales will rise slightly.
•  C. sales will stay the same.
•  D. sales will drop to zero.

What are the two major forms of workforce diversity? Also discuss the key biographical characteristics and how are they relevant to organizational behavior?

1. As an accountancy or management accounting student, discuss about the significance of taking up a course in statistics in light of your upcoming research courses and your future career path.

2. What do you think will be your advantage in taking up this course with the software applications R and RStudio? Talk about your strengths and weaknesses with regard to the use of technology.

3. Discuss some concerns you have about taking this course using the OBL/CBL mode. How do you plan to address these concerns? What suggestions can you give to the course facilitators in connection with this?

As an accountancy or management accounting student, discuss about the significance of taking up a course in statistics in light of your upcoming research courses and your future career path.

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1.1 tabulate the difference between 1992 and 2021 curriculum development in South Africa