Economics Answers

The demand curve for a product is given by:
P = 3.2 – 0.2Q
where:
Q is the quantity in kg and
P is the price in £ per Kg.

The cost of production (£) is determined by the equation:
C = 1.0 + 0.15Q + 0.15Q2

Assume that Q can take a continuous range of values.

(a) Show that this coincides with the point at which Marginal Revenue is equal to Marginal Cost.

Sally advertises the sale of her used car for $2,000. In this situation, money is serving its function as a .
A. medium of exchange B. store of value
C. unit of account D. means of payment

please explain what happens to economy in the short-run when there is a financial shock that causes the risk premium to increase. Use the appropriate IS-LM model and the relevant graphs to answer this questions.

initially Y=Yn , π =π(-1) and goverment decides to reduce the budget deficit by decreasing government spending.The central bank decreases the policy rate so as to increase output back to potential and realese the deflation ;1) illusturate the short-run and medium-run equilibria using relevant graphs when the zero lower bound is NOT binding.?
2) ıllustrate the short-run and medium-run equilibria using relevent graphs when the zero lower bound is binding.

Mr Lim, a tuition teacher, is deciding how many hours to teach each day and how much to charge for his tuition. Each hour of lecture cost him $40. He has two students A and B with demand curves as follows: • Student A: PA= 72 - 8Q Student B: PB = 56 - 4Q • where Q is the number of hours he teaches. (a) If he teaches only one student per class in an hour, obtain the market demand curve for his tuition from the two students. To maximize social welfare, how many hours of tuition should he teach? (b) Suppose that he can broadcast his tuition online, so that both students can listen to his tuition at the same time. Obtain the marginal social benefit equation. What is the socially optimal number of hours of tuition he should provide?

use the phillips curve to explain the relationship between unemployment and inflation

discuss the shape of demand curve for a monopolistically competitive firm

Calculate the tax liability of a company with a turnover of 900,000 adjusted profit of 200,000 with a capital allowance of 110,000

To what extent high powered money affect money supply?
What are the uses of private savings in economy?

1. The price elasticity of demand for tomatoes is −1. This month the price is Php 50 per kilo and the total amount of tomatoes demanded is 1000 truckloads. Next month the price is expected to rise to 80 per kilo. How many truckloads can we expect to be demanded next month.