Economics Answers

Are there any advantages to a single market seller and how do they compare to its perceived disadvantages.

Illustrate and explain using diagrams how a single seller within the market can maintain an inefficient allocation of resources

Describe the process of testing hypotheses about the population proportion of a given attribute

Explain why exploitation of common access resources such as uncontrolled hunting might pose a threat to sustainability

Can you provide many reasons as why youth unemployment is an issue?

A company manufactures and sells bar stools. Manufacturing costs consist of a fixed cost of R 25000 per month and a variable cost of R350.00 per unit. Each unit is sold at R600.00. determine the linear profit equation and what is the break even level. assignment experts

suppose that there are only two firms in the petroleum market that are Saudi Aramco (SA) and Kuwait Petroleum Corporation (KPC). They give you some information about the petroleum market and you have to answer the question below.

#Demand Equation: P=110-Q

The ABS System of National Accounts data shows the components of GDP (see Table 2). http://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/5204.02016-17?OpenDocument
Using this information, we can calculate the value of net exports, from which we can see that net exports have been negative since June 2005 (the data has been updated from the numbers used to create the Topic 7 charts). Use an AS-AD diagram to help explain how has likely impacted output and inflation in Australia.

a) Suppose that Australia starts off in long-run equilibrium with all workers working full-time at 37.5 hours per week. Show this long-run equilibrium on an AS-AD diagram of the macroeconomy. (1 mark)

b) Now suppose that the government mandates a work-week of 30 hours and that, for now, there are no other changes to productivity or anything else at all. Use your diagram to show what is likely to happen to the SRAS curve and explain what this is likely to do to output and inflation in the short-run. (3 marks)

How to determine the profit maximizing price and quantity for a single price monopolist ? Using ATC as Average total cost, P as price and MC as Marginal cost ?

Eric provides his employee with the use of a car for 183 days during the FBT
year. During this period the car travelled 16,000 km. Eric purchased the car last
year for $50,000. The employee contributed $1,000 towards the cost of running
the car and has provided Eric with relevant documentation.
Requirement:
Calculate the taxable value of the car fringe benefit using the statutory
formula.