Economics Answers

A cinema charges £8 per ticket for evening screenings and sells 250 tickets a night on average. They estimate that the price elasticity of demand for tickets is (-) 1.6.
Calculate the expected number of tickets sold if they reduce the ticket price to £7.

3. Complete the following table (fill all the empty cells): (1)

Total output Fixed cost Variable cost Total cost Marginal cost Average fixed cost Average variable cost Average total cost
0 100 $0 100 $------ $------ $------ $------
1 100 $10
2 100 $18 118 $5
3 100 $23 123
4 100 $6.50

How can we benefit more from female economists in the economy?

If the economy had a greater share of women economists, could the economy benefit more than women economists?

One of the main macroeconomic objectives of any country in the World is economic growth as measured by the gross domestic product (GDP) per capita from one year to the other. However, the fast growth rate of the Latvia economy created significant macroeconomic imbalances.
1.1 Discuss the costs and benefits for Latvia following the transitioning from a planned to a market economy.

Critically discuss elastic, inelastic and unitary conditions/forms of price elasticity of demand through the use of practical examples and graphs...it's 45 marks

With regard to coal shortages and municipal debts, What forms of interventions do you think Eskom can put in place in order to cover up for all the debts and continue operating? Incorporate relevant graphs in your answer.

How will Eskom's interventions of covering up for all the debts and coal shortages impact on consumers.

A rational consumer spends all of her income on two goods: Apple and Banana. Suppose the last dollar spent on Apple increased her total utility from 60 utils to 68 utils and the last dollar spent on Banana increased her total utility from 25 utils to 29 utils. If the price of a unit of Apple is 2 Birr, what is the price of a unit of Banana at equilibrium?

your friend saved 12,000 sar during his studies in ksu. he wants to invest and he wants your help to choose one of the following two alternative investment opportunities. the first is buying 10 ounces of gold or buying 1,200 call options. the current price of gold is 1200 sar, and the 6- month european call option with a strike price 1185 sar is 12 sar. he strongly feels that the price of gold will increase. what is your advice to your friend (explain your advice)?