Other Economics Answers

Show diagrammatically the impact on the firm's profit if in the short run demand or the product reduces

"Changes in policy of large countries affect the world economy." Do you agree? Why?

1. A local grocery store purchases a dozen of eggs for P60. 00 and sell it for P84. 00. Compute for the:

a. Mark-up

b. Mark-down

c. Gross margin

d. Gross margin ratio

3. After a reduction of trade discount rate of 25% of the merchandise purchased, the invoice price was P13, 000.00. what was the list price?

4. A television is listed at P333,000.00 less discount of 5%, 7% and 9%. Fins the net price.

5. Two suppliers offer identical sets of kitchen wares at the same list price. However, company ABC gives trade discount series of 20%, 15% and 5%, while company DEF offers 25%, 10% and 54%. Which is a better discount for the buyer?

Finance has gained great momentum and improvement over given period since 1960s.The revolution has caused a lot of development in the field of finance and thw contribution from various scholars have also been recognized. Discuss various revolution steps in the field of finance and recognizing various philosophers (10mks)

Suppose you are a monopolist and find that the demand elasticity of your

product is different in two markets. What would be your pricing strategy?

) Calculate the income elasticity of Good K when income increases from RM1000 to RM2200. State the type of Good K.

Jesse belongs to an HMO that requires precertification and preauthorization for certain medical care. Jesse does not like any of the physicians in the HMO, so he decides to go to a physician out of the network. When he receives his bill for care, his insurance has only made a minimal payment, and he is responsible for a large portion of the bill. What did Jesse do that minimized the payment? Would preauthorization or precertification make a difference in the payment?

In Utopian world, there is

(a) Scarcity of means

(b) Plentiful ends for all

(c) Abundant resources

(d) b & c

(State the reason too. There is a confusion between option (b) and option (c) )

What is the exception to the law of comparative advantage? How prevalent is it? 

In what way was Ricardo’s law of comparative advantage superior to Smith’s theory of absolute advantage? How do gains from trade arise with comparative advantage?