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Economics
evaluate how south africa has worked to develop and adopt measure to establish protectionism and free trade
Consider a market with demand and cost curves characterized by Q(P) = 17 - P and
C = 5Q respectively. The market is served by 5 identical firms which operate as a Cournot Oligopoly. Find the total quantity, price, profit, and consumer surplus and deadweight loss in this market.
C = 5Q respectively. The market is served by 5 identical firms which operate as a Cournot Oligopoly. Find the total quantity, price, profit, and consumer surplus and deadweight loss in this market.
Study a monopolist where the market demand curve for the produce is given by P = 420 – 2Q. This monopolist has marginal costs that can be expressed as MC = 50 + 2Q and total costs that can be expressed as TC = 50Q + Q2 + 50.
a) Given the above information, what is this monopolist’s profit maximizing price and output?
b) Given the above information, calculate this single price monopolist’s profit
a) Given the above information, what is this monopolist’s profit maximizing price and output?
b) Given the above information, calculate this single price monopolist’s profit
Which of the following statement regarding stock "spread" is correct?
A trader initiating a transaction is said to supply liquidity; the counterparty demands liquidity
The bid-offer spread is the difference between the prices quoted for sale and for purchase.
A stock's bid-offer spread is the sole component of a transaction cost.
All of these answers.
A trader initiating a transaction is said to supply liquidity; the counterparty demands liquidity
The bid-offer spread is the difference between the prices quoted for sale and for purchase.
A stock's bid-offer spread is the sole component of a transaction cost.
All of these answers.
1. What are some of the tasks investment banks undertake when they advise companies?
Negotiate the terms of the acquisition between the acquiring and acquired business.
All of these answers.
Prepare the company's pitch book.
Find companies that might be interested in acquiring the business.
Negotiate the terms of the acquisition between the acquiring and acquired business.
All of these answers.
Prepare the company's pitch book.
Find companies that might be interested in acquiring the business.
Question # 1
Production point Pages typed Web pages created
A 0 4
B 40 3
C 70 2
D 90 1
E 100 0
(a) Jean can either type her term paper or create Web pages during the limited time she has available. The table above shows her PPF.
(i) Can Jean type 90 pages and create 2 Web pages?
(ii) Use the above numbers to calculate the opportunity cost of a typed page as she increases her time typing and decreases time creating a Web page.
Production point Pages typed Web pages created
A 0 4
B 40 3
C 70 2
D 90 1
E 100 0
(a) Jean can either type her term paper or create Web pages during the limited time she has available. The table above shows her PPF.
(i) Can Jean type 90 pages and create 2 Web pages?
(ii) Use the above numbers to calculate the opportunity cost of a typed page as she increases her time typing and decreases time creating a Web page.
What is the interest rate channel of monetary policy
If the government puts a $2 excise tax on a product and as a result, price rises by $0.75, which of the following statements is correct?
A. The government's tax revenue falls.
B. The quantity demanded of the product falls by 37.5%.
C. The sellers pay more of the tax than the buyers.
D. The buyers pay more of the tax than the sellers.
E. The quantity demanded of the product rises by 37.5%.
A. The government's tax revenue falls.
B. The quantity demanded of the product falls by 37.5%.
C. The sellers pay more of the tax than the buyers.
D. The buyers pay more of the tax than the sellers.
E. The quantity demanded of the product rises by 37.5%.
What will happen to the quantity demanded if the price elasticity of demand is 2 and price increases by 10%?
A. It increases by 10%.
B. It decreases by 5%.
C. It decreases by 20%.
D. It increases by 20%.
A. It increases by 10%.
B. It decreases by 5%.
C. It decreases by 20%.
D. It increases by 20%.
Below are some data on price, income and demand for four different time periods.
Year
Income
Price of X
Quantity
Price of Y
Quantity
Demanded
Demanded
of X
of Y
1
$40 000
$140
50
$40
200
2
40 000
150
40
40
160
3
40 000
150
30
70
140
4
50 000
150
40
70
160
a) What is the price elasticity of demand for product X between years 1 and 2? Is the demand elastic or inelastic?
b) What is the price elasticity of demand for product Y between years 2 and 3? Is the demand elastic or inelastic?
c) What is the income elasticity for product X between years 3 and 4? Is it a normal product or inferior? Is it a necessary product or a luxury?
d) What is the cross price elasticity of demand of product X for Y between years 2 and 3? Are the products X and Y substitute or complementary?
Year
Income
Price of X
Quantity
Price of Y
Quantity
Demanded
Demanded
of X
of Y
1
$40 000
$140
50
$40
200
2
40 000
150
40
40
160
3
40 000
150
30
70
140
4
50 000
150
40
70
160
a) What is the price elasticity of demand for product X between years 1 and 2? Is the demand elastic or inelastic?
b) What is the price elasticity of demand for product Y between years 2 and 3? Is the demand elastic or inelastic?
c) What is the income elasticity for product X between years 3 and 4? Is it a normal product or inferior? Is it a necessary product or a luxury?
d) What is the cross price elasticity of demand of product X for Y between years 2 and 3? Are the products X and Y substitute or complementary?
