Economics Answers

one major problem with national income is multiple counting, this occurs in product approach when intermediate goods added

is this true or false

Although the outbreak of the covid-19 has had adverse impact on the most economies, policy makers believe if is an opportunity developing countries to build their economies . To what extent do you agree with this statement ??

Several economists project a decline in GDP growth in many countries mainly to the outbreak of the covid-19 pandemic . To what extent do you agress with their projections?

The following table represents the market for disposable Mask.

PRICE QUANTITY DEMANDED QUANTITY SUPPLIED
Rs. 5.00 15 0
Rs.10.00 13 3
Rs.15.00 11 6
Rs.20.00 9 9
Rs.25.00 7 12
Rs.30.00 5 15
Rs.35.00 3 18

a) Plot this data on a supply and demand graph and identify the equilibrium price and quantity.

b) Explain what would happen if the market price is set at Rs.30, and show this on the graph.

c) Explain what would happen if the market price is set at Rs.15, and show this on the graph.

3 Prevailing market price is 4 USD. Firm's total cost and output is given in the following: Output = 0, 10, 20, 30, 40, 50, 60, 65, 70, 75, 80, 85, 90 Total cost = 65, 100, 130, 150, 160, 170, 185, 196, 210, 227, 250, 290, 360 A. Determine the output and dollar amount at which the firm maximizes total profits? B. At what levels of output does the firm break even? (Plot the curves and show graphically with help of total and marginal analysis). C. Determine the output and dollar amount at which the firm maximizes average profits?


C. Determine the output and dollar amount at which the firm maximizes average profits?

How can we calculate part c ?? Average profit=marginal revenue , but both there is a confusion , kindly share your explanation

Extract B (lines 9 - 11) states "The Bank of England's monetary policy committee loosened its monetary policy in an attempt to prevent a downturn in the economic cycle"

Explain how monetary policy might help to prevent a downturn in the economic cycle (10 marks)

Firms operating in market structure may decide to restrict output and increase prices identify and explain this form of economic behavior exhibited by firms in the industry

Jamie has a full time job earning £400 a week. He has booked a holiday costing £1 400 and he will have to pay for it in full by the end of the month. He does not have enough money to do this at the moment. Usually after paying his bills he has around £100 for personal spending. He is unsure whether to apply for an overdraft or a personal loan to make this payment for his holiday.
5 Assess whether an overdraft or a personal loan would be better for Jamie

b. The supply of chicken meat in Pakistan increases, causing meat prices to fall. Lower prices always mean that Pakistani households spend more on meat.

assume there is uncertainty about the costs of disposing is the waste: there is 50 50 chance that they will bw $10000 of $30000. Discuss how this uncertainty effects the cost benefit calculation, if the government is risk neutral or very risk averse.