Other Economics Answers

The following are indirect quotations of the dollar against the Swiss franc, the Japanese yen, and the British pound: $1 = SF1.4814 – 1.4828 $1 = ¥124.26 – 124.37 $1 = £0.6419 – 0.6428 (a) Calculate the midpoints in each rate and the direct quotation of each of the above rates. (b) Calculate the cross rates between (i) the Swiss franc and the Japanese yen, (ii) the Swiss franc and the euro, and (iii) the Japanese yen and the euro.

(3) Elasticity of Demand

For the linear demand p the demand is: = 13 0.05q, please find the price interval in which -

a Elastie

b) Inelastic

Unit elastic

d) Explain intuitively the meaning of increasing revenue on interval for which demand is elastic and decreasing revenue on interval for which demand is inelastic (50-100 words) (20 points)

In your own words, what is concept of demand

what kinds of entry barriers helped protect intels monopoly positions? What actions dis intel take to impede market entry?

suppose that the demand curve facing opec is given by p= 120-2q and that each member's cost of producing oil is ac=mc= $20. find the cartels profit maximizing total output and price. If instead of keeping to this output, all members overproduced their quotas by 20 percent,what would be the effect on OPECS total profit

(d) The table below shows the marginal utility schedule for orange (X)      and apples (Y). Suppose that oranges and apples are the only two  commodities available, the price of orange is Shs 10 , the price of   apple            is Shs 10, and individual income is Shs 800 per time period and all is spent.

Quantity

Marginal utility of X

Marginal Utility of Y

10

20

30

40

50

60

70

110

100

90

80

70

60

50

190

170

150

130

120

100

80

           Required:

(i)    How many units of good X and good Y will this utility maximizing consumer buy if the level of income is Shs 14                                                                                  (3 marks)

In most economies of the world, is the short-run Phillips curve hypothesis still relevant? What about the long-run hypothesis?

Discuss

𝑄𝑑 = 1100 − 3P

Using the equation, find the quantity demand if the price is 180

𝑃 = −𝑄𝑑 + 700

Using the equation, find the quantity demand if the price is 0

𝑄𝑑 = 500 − 4p

Using the equation, find the quantity demand if the price is 25