Economics Answers

Explain Protectionism of Malaysia
Defence industries of Malaysia

Critically evaluate change in diplimted plannig in pre and post diplisation period?
what are the broad objective of planning in india in economics ?

An economy comprises two consumers, 1 and 2,
with two consumption goods bi-cycles (b) and
wheat (w). Both consumers have the same utility
function (b, w) = bw. Bi-cycles and wheat are
produced by two firms which use only labour
according to the production functions.
CD b = \r/T, and w = 0.5 \Ft,
Both firms are owned by consumer 1, and
CD consumer 2 owns 200 units of labour. Cr.)
(a) Find the production possibility frontier for
this economy.
(b) Find the competitive equilibrium.
(c) Find competitive equilibrium if every
consumer owns 100 units of labour and
owns one firm.

An economy comprises two consumers, 1 and 2, with two consumption goods bi-cycles (b) and wheat . Both consumers have the same utility function μ Bi-cyclesandwheat areproducedbytwofirmswhichuseonlylabouraccordingtotheproductionfunctions b =l and l Both firms are owned by consumer 1, and consumer 2 owns 200 units of labour. (a) Find the production possibility frontier for this economy. (b) Find the competitive equilibrium. (c) Find competitive equilibrium if every consumer owns 100 units of labour and owns one firm. (d) Find the Pareto efficient allocations for this economy.

3. The monopolist with marginal cost of production of 40 sells to two distinct regions. In Region 1, demand is given by Q1=300-p1. In region2, it is given by Q2=180-p2.

1) Determine the optimal uniform price and output when discrimination is impossible.

2) Assume discrimination between the two regions is possible. What price will be set for each region? What quantity will be sold in each region?

3) How does the discriminatory price relate to the elasticity of demand in each country?

2. A market consists of two population segments, A and B. An individual in segment A has demand for your product q = 50 – p. An individual in segment B has demand for your product q = 120 – 2p. Segment A has 1000 people in it. Segment B has 1200 people in it. Total cost of producing q units is C = 5000 + 20q.

1) What is total market demand for your product?

2) Assume that you must charge the same price to both segments. What is the profit-maximizing price? What are your profits?

3) Imagine now that members of segment A all wear scarlet “A” on their shirts or blouses and that you can legally charge different prices to these people. What price do you charge to the scarlet “A” people? What price do you charge to those without the scarlet “A”? What are your profits now?

Climate change results from particular human activities in every country across the world. To what extent can government intervention in any individual country such as Australia be effective in combating it?

According to economic theory, under what circumstances should a government intervene in
issues of climate change?

The advent of mobile shopping apps has led to an enormous growth in online shopping, particularly for electronic goods. Explain what effect is the introduction of shopping apps having on:

(a) Competition in the retail market for electronics
(b) The profitability of the traditional brick-and-mortar retailers of electronics
(c) The consumer surplus of purchasers of electronics

The wool industry in Hypothetica is highly competitive with the many woolgrowers seeing themselves as being price takers in an industry with no significant barriers to entry. In order to improve the incomes of woolgrowers, the government of Hypothetica is contemplating subsidising wool production in order to reduce woolgrowers’ costs and thus increase their profits. The government is also considering, as an alternative policy, the provision of funds for the wool industry to improve the marketing of its product and thus to increase the demand for wool.

Using diagrams, show the impact of each of these two policies on a typical firm (i.e. woolgrower) in the wool industry in the long run. (Assume constant costs and also assume that all firms in the industry are initially in long run equilibrium). Will the typical woolgrower be better off in the long run if either policy is implemented?