Economics Answers

Consumer spends all his or her income on food (X) and clothing (y). The current prices are p1 10 birr and P2 5birr and he or she maximizes utility by purchasing 20 units of X and 50 units of y.find how much he or she will purchase if she or he spends the entire income on x

Provide a brief explanation on how the South African economic growth had been performing

since 2000. Further, what conclusions can be drawn from fuel tax increase effects on the

economic growth and public social welfare.

Does temporal relief on fuel tax suggested by the Finance Minister have a positive

impact on the economic growth

Discuss the fuel tax increase impact the economic growth of S.A

Discuss the fuel tax increase impact the public social welfare.

Consequences of Unemployment and then respond to the following:

Based on your own life observations, identify one personal and one social consequence of unemployment in your country or society. What role, if any, do you believe the government should play to reduce negative consequences

two markets for substitute goods:

Q^s₁ = 2P₁

Q^S₂=-10+2P₂

Q^D₁=20-P₁+P₂

Q^D₂=40-2P₂+P₁

FIND THE EQUILIBRIUM PRICE AND QUANTITY OF THE TWO GOODS

Prices are much higher in the Pakistan in 2022 than in 2010.

Does this fact mean that people were economically better off in

2010? Why or why not?

which industries are highly competitive, give local examples

(a) The demand (D) and supply (S) equations for a commodity (X) are given by:- D = 2000 – 20P S = -500 + 30P, where P = Price (R) per unit (i) Find the equilibrium price and quantity and show on a suitable diagram.