Economics Answers

assume at the price of 5 naira per unit 50 oranges and 35 pineapple are bought as a result of prices of oranges to 15 naira per unit. the quantity of price of pineapple purchase increase to 70 unit while oranges decreased to 15 unit. what is the cross elasticity for demand of pineapple.
find:
cross elasticity for pineapple

assume at the price of 5 naira per unit 50 oranges and 35 pineapple are bought as a result of prices of oranges to 15 naira per unit. the quantity of price of pineapple purchase increase to 70 unit while oranges decreased to 15 unit. what is the cross elasticity for demand of pineapple.
find:
Arc elasticity of pineapple

Explain the relationship between the three short-run total cost curves.

As an economist in Nigeria going in production if a project that #2.5m will execute though you have availability of #2m. List the name of the project and breakdown of the spending and breakdown of repayment with 2% interest

Which needs to happen to the price indicated by p2 on the graph in order to achieve equilibrium?

A significant improvement in auto technology will

In the labour market for carpenters, the current market clearing wage rate is R800 per day. With the aid of a diagram, discuss the welfare effects of government intervention in the form of legislation that sets the minimum wage rate for a carpenter at R1000 per day

difference between price elasticity of demand and income elasticity of demand

Tom is a full time lecturer and is considering a career in carpentry. In his current position he earns R 1000 per day and if he pursues a career in carpentry he would earn R 800 per day. due to flexibility of the employment conditions at the institution he works for, Tom can negotiate the number of days he worked at and will receive a rate of remuneration based on the days works. Construct a production possibility frontier to illustrate Tom's potential between the two careers if initially he was not working as a carpenter, then he worked one week per month, then two weeks, then three weeks and then four weeks per month, assuming only four weeks in the month.

1. The demand for ice cream cones is P=1600 and Qd is 2
The supply of ice cream cones is P =400 and Qs is 1. The price of a cone is expressed in cents, and the quantities are expressed in cones per day. To find the equilibrium price (P*) and the equilibrium quantity (Q*), substitute Q* for QD and QS and P* for P. (8 marks). (FOR QD, P=a-bQd and for QS, P=c+dQS).