Economics Answers

The demand curve facing a firm operating under a monopoly is given by,
P = 85 - 2.5Q; The cost function is given by
TC = 20 + 25Q + 2.5Q²
What is the maximum profit?
What is the profit maximizing price elasticity of demand?
What is the revenue maximizing price elasticity of demand?

You are given that the equilibrium price and quantity of a product A are $30 and 2kg respectively. What is the marginal revenue when the price elasticity of demand is -3?
What is the marginal revenue when quantity is 4?

What does it mean when there is a surplus on a country’s current account?

Which of the following refers to activities that must be performed by individuals and organizations to ensure that only useful data is created for conveying information?
Show Options
A.Data storage
B.Data manipulation
C.Data management
D.Data mining

2. Consider the following data: Nominal GDP for 1993 was $6553 billion, as compared to $6244 for 1992. The GDP deflator for 1993 was 102.6, as compared to 100.0 for 1992. Calculate real GDP for 1992 and 1993, in 1992 prices. Calculate rates of growth of nominal GDP and real GDP for 1993. What was the rate of inflation (as measured by GDP deflator) for 1993?

2.3 Which one of the following is not a way that the government can intervene in the economy?
[1] participating in the market
[2] changing the repo rate to change the interest rate
[3] regulation by means of policies, laws or rules that affect the economy
[4] changing the tax rate and/or structure
2.4 Which one of the following statements is correct?
[1] Eskom is an example of a nationalised entity.
[2] Nationalisation will attract foreign direct investment, which will increase foreign reserves.
[3] The transfer of ownership from a private enterprise to the government is called nationalisation.
[4] Nationalising an organisation would increase its efficiency.

Business employees calculated that the expense to produce an additional cell phone is $50. This monetary amount represents a _____

A manufacturer’s ability to increase his output in the short run will be greater if

Refer to Table 32-2. Canada has a comparative advantage in the production of ________. India has a comparative advantage in the production of ________.
1 point
Table 32-2
Table 32-2
rice; wheat
wheat; wheat
rice; rice
wheat; rice
neither good; neither good

what is PPP and there are two types: Absolute and Relative explain