Economics Answers

Why is it that the goals of policymaking (efficiency, growth, stability, equity) often conflict?

Whether or not FIT should run a class. (All numbers made up.) Relevant information & assumptions are: For each student FIT receives $300 in tuition per class & another $300 in state aid, $600 altogether. We are considering whether to let a night class in Labor Economics run. Assuming using an adjunct (part-time) instructor paid $2,000 to teach the class. Assuming that if the class doesn't run, we'll lose all the students, that they'll go to another college to take the class or will just do something else with their time. Also, that this class doesn't have an effect on whether or not they take other classes at FIT. In order for a class to cover all of the fixed (the Dean's and President's salaries & the building & insurance that you will have to pay whether or not you run the class) & variable costs (the instructor who you will have to pay if you run the class & won't have to pay if you don't) it needs to generate $9,000 & enrollment of 15 students. 10 students sign up for the class.

The XYZ Ltd. contains the following information:
Balance sheet as on March 31, 2017
Particulars Previous year (Rs. thousand) Current year (Rs thousand)
Cash 200 150
Sundry debtors 320 400
Temporary investments 200 320
Stock 1840 2160
prepaid expenses 28 12
Total current assets 2,588 3,052
Total assets 5,600 6,400
Current liabilities 640 800
5% Debentures 1,600 1,600
Equity share capital 2,000 2,000
Retained earnings 468 904
Statement of profits year ended March 31, 2017
Particulars (Rs thousand)
Sales 4000
Less: Cost of goods sold 2800
Less: Interest 160
Net profit for current year 1040
Less: Taxes 364
Earnings after taxes 676
Dividend declared on equity shares 220

From the above, appraise the financial position of the company from

discuss richard layard identifies seven factors

discuss the role of values inthe development economics

1) i. A perfectly competitive firm produces 1,000 units of burger in marginal revenue is RM6. Calculate the firm's average fixed cost, long-run average cost, total and total profit.
ii. Plot a graph for a competitive market in the short run
2) For each of the statements below, plot a graph to show the firm's profit or loss (if any).
i. A profit-maximizing monopoly in the short run making a positive economic profit.
ii. A loss-minimizing monopoly in the short run which has shut down.
iii. A loss-minimizing monopoly in the short run that is operating but losing money.

.) The following data refer to quantity of sweets demanded by students in given school.
Price (Kshs) Quantity demanded
1 100

1.10 80

Required:
i) Calculate the price elasticity of demand considering a price increase form Ksh. 1.00 to Ksh. 1.10.
(3.5 marks)
ii) Calculate the price elasticity of demand when price decreases from Ksh. 1.10 to Ksh. 1.00. (3.5 marks)

Suppose that Total revenue of the firm is
TR = 5Q + 3Q2 and TC is TC = Q + 4Q2.
Obtain the quantity that maximizes profit and hence maximum profit.

Suppose that Total revenue of the firm is
TR = 5Q + 3Q2 and TC is TC = Q + 4Q2.
Obtain the quantity that maximizes profit and hence maximum profit.

With appropriate example (including an illustration), discuss the concept of Production
Possibility Curve. (Hint –Relate this to opportunity cost and choice)