Economics Answers

3.- From the TUx schedule in Table:

a) Derive the MUx Schedule.

b) Plot the TUx and the MUx schedules and indicate the saturation point.

Qx 0 1 2 3 4 5 6 7 8 9

TUx 0 7 13 18 22 25 27 28 28 27

explain why the long-run macroeconomic equilibrium will always return to full employment according to new classical

The price of good A falls. This causes an increase in the price of good B. Goods A and B are therefore complements.

What are some of the factors that cause wages to be inflexible (not change very easily and rapidly)?

1

a) List four (4) segments of the circular flow.         

b) Name and explain the importance of two markets in a circular flow

2 Suppose the following demand and supply functions are given as:

 Qs = 4 + 4P and Qd =40 - 8p.

a)    Calculate the market clearing price and quantity for the above market and show the results on the graph.                                                                                            [05]

b)    Suppose the price increase by 100%, what will happen to the quantity demanded and quantity supplied. Show the changes on a new graph.                                     [05]

3 Name and explain two (2) types of disequilibrium in the market.

4 Differentiate between movement along and a shift in demand curve.                        [02]

5 List any two (2) determinants of demand and explain how each can change the demand curve.  

Please give answer for assignment of managerial Economics

Describe the four categories of economic resources. Which category of resources you and your family owned?

Define scarcity, choice and opportunity cost. Can you link them in your day to day lives?

) Suppose the government can redistribute income with a lesser cost from relatively rich to relatively poor people. What effect does redistribution have on average health? 

Comparing the impact of a decrease in government spending in the goods market model with the impact of a decrease in government spending in the IS-LM model: