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We may define economics as the study of
How can intra industry trade be measured
1. Define what sustainable and ethical banking means? Explain the importance of the concept in the financial industry.
What is the relation between productivity and cost? Describe the association using equations for MC & MP, and AP & AC
Assume you are managing a food processing plant in Ethiopia. The demand function
for one of your product is given as Qd=50-2p.
a)Find the point price elasticity if price is 15 ETB? Is it elastic or inelastic?
b)How do you interpret the elasticity result?
c)In order to get more revenue what will be your recommendation
.Is it to increase
price or decrease price? Why?
d)Describe at least four determinants of the price elasticity demand for the food
product?
If a consumer increases her quantity of ice cream consumed by 100% when her
income rises by 25%. Calculate her income elasticity of demand for the
ice cream and interpret the result.
In a business cycle, the end of a recession is represented by:
1. a depression.
2.an inflation.
3. a trough
4. a peak.
If a consumer increases her quantity of ice cream consumed by 100% when her
income rises by 25%. Calculate her income elasticity of demand for the ice cream and
interpret the result.
Assume you are managing a food processing plant in Ethiopia. The demand function
for one of your product is given as Qd=50-2p.
a) Find the point price elasticity if price is 15 ETB? Is it elastic or inelastic?
b) How do you interpret the elasticity result?
c) In order to get more revenue what will be your recommendation. Is it to increase
price or decrease price? Why?
d) Describe at least four determinants of the price elasticity demand for the food
product?
For a monopolist firm the demand and the total cost functions are given as Q = 20-
0.5P and TC= 4Q2-8Q+15, respectively.
Find
a) the optimum quantity and the optimum price level
b) the profit/loss on these levels
c) at what price should the monopolist shut down?
d) Show the economic profit (loss) of the firm in a graphic representation
