Economics Answers

Eugene earns a monthly salary of R10 000. He gets a travel allowance of R2000 (use the 80% option to calculate). The employer pays Eugene's medical aid of R500. R400 per month is deducted from his salary for an approved pension fund. In February he earned commission of R5000. (Eugene is the only member on the medical aid fund. His company contributes R500 while he makes no contribution towards the fund).

Calculate the total earnings of Eugene's remuneration (taxable income) for February.

consider a consumer with income rupees hundred there are two commodities 1 and 2 to choose from if the consumer spends all his income on good one he can buy 5 units of it if he spent all his income on good to he can buy 20 units of it is based on the given information attempt the following

Sonja Cc is a small firm that makes outfits for customers tailored for their functions, in May 2021 she was ordered for a baby shower (BS)

The details for the Job BS are as follows:

Direct materials: 12 units at N$124.

Direct labour: 20 hours for department A at N$25 per hour.

10 hours for department B at N$30 per hour

12 hours for department C at N$27.50 per hour

The firm allocates manufacturing overheads budgeted at N$2500 in department A, N$2000 in department B and N$3000 in department C.

The firm expects a profit of 55% on the total cost of BS

Required:

a)Calculate the cost of the baby shower BS

b)Calculate the selling price of a baby shower (BS)

c)If the number of outfits are the same for each type of function, which function should Sonja choose to produce and why?

Diagram to explain why all giffen goods are inferior but not all inferior goods are giffen good

i. Suppose that a unit of sugar is priced at R5 and the price of a unit of salt is R10.

Compute the weighted marginal-utility for sugar and salt and enter these values in

the table.

[04]

ii. Given Kagiso’s R30 budget, how many units of sugar and salt will be purchased?

Explain how you arrived at this answer.

[02]

iii. Suppose the price of salt stays constant at R10 and the price of sugar falls to R3.

How many units of sugar will be demanded at this price? Carefully explain your

reasoning.

[03]

Sonja Cc is a small firm that makes outfits for customers tailored for their functions, in May 2021 she has ordered for a bridal party (BP)

The details for the job (BP) are as follow:

Direct materials: 10 units at N$108.

Direct labour: 16 hours for department A

10 hours for department B

14 hours for department C

The labour hours are budgeted at 40, 25 and 30 in departments A, B and C respectively.

The firm expect a profit of 40% on the total cost of BP.

Required:

a)Calculate the predetermined overhead allocation rate (OAR) for each department using labour hours as a base for such allocation.

b)Calculate the cost of a bridal party (BP)

c)Calculate the selling price of the bridal party (BP).

I’m economic theory, a clear distinction is made between a movement along the demand curve and a movement of the demand curve. I’m light of this statement, provide the correct graph to illustrate and explain an increase in the price of the product

Name and describe 3 economic costs that a city can encounter when they have a Sinkhole?

What are the 5 main main macroeconomics objectives?

 In the endogenous growth model of Romer (1990), workers can, without costs,

shift between the production of inputs and R&D. Imagine instead that the fraction

of researchers in the economy is a fixed parameter that cannot be changed. Then,

conjecture what happens to the responsiveness of the growth rate in the economy to

the degree of substitutability among the varieties of ideas, φ.