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The demand function for rose is Q=a-bp, and the supply function is Q=c+ep+ft, where a, b, c, e, and f are positive constants and t is the average temperature in a month. Show how the equilibrium quantity and price vary with temperature?
Estimated demand function for processed pork is Q=171-20p+20p_b+3p_c+2Y
Using the estimated demand function for processed pork in Namibia, show how the quantity
demanded at a given price changes as per capita income, Y, increases by N$100 a year.
[6 marks]
If the supply of corn by the Namibia is Q_n=a+bp and the supply by the rest of the world is Q_r=c+ep, what is the world supply? What is the world inverse supply? [6 marks]
The demand function for rose is Q=a-bp, and the supply function is Q=c+ep+ft, where a, b, c, e, and f are positive constants and t is the average temperature in a month. Show how the equilibrium quantity and price vary with temperature? [8 marks]
Question Two [10 marks]
What is the effect of a N$1 specific tax on equilibrium price and quantity if demand is perfectly inelastic? [4 marks]
The coconut oil demand function is Q=1200-9.5p+16.2p_p+0.2Y. Assume that p is initially N$0.45 per kg, p_p=N$0.31 per kg and Q=1275 thousand metri
Using the estimated demand function for processed pork in Namibia, show how the quantity
demanded at a given price changes as per capita income, Y, increases by N$100 a year.
[6 marks]
If the supply of corn by the Namibia is Q_n=a+bp and the supply by the rest of the world is Q_r=c+ep, what is the world supply? What is the world inverse supply? [6 marks]
The demand function for rose is Q=a-bp, and the supply function is Q=c+ep+ft, where a, b, c, e, and f are positive constants and t is the average temperature in a month. Show how the equilibrium quantity and price vary with temperature? [8 marks]
Question Two [10 marks]
What is the effect of a N$1 specific tax on equilibrium price and quantity if demand is perfectly inelastic? [4 marks]
The coconut oil demand function is Q=1200-9.5p+16.2p_p+0.2Y. Assume that p is initially N$0.45 per kg, p_p=N$0.31 per kg and Q=1275 thousand metri
A statistical agency measures the price index using a basket of consumer goods. This table shows the price in dollars for this basket of goods for four years.
Year Price of the
Goods Basket
1990 $500
1991 $625
1992 $690
1993 $725
4.3. In 1993:
A. The inflation rate and the price index both fell
B. The inflation rate fell but the price index increased
C. The inflation rate increased and the price index fell
D. The inflation rate and the price index both increased
Year Price of the
Goods Basket
1990 $500
1991 $625
1992 $690
1993 $725
4.3. In 1993:
A. The inflation rate and the price index both fell
B. The inflation rate fell but the price index increased
C. The inflation rate increased and the price index fell
D. The inflation rate and the price index both increased
what is gdp measured by?
1. Estimated demand function for processed pork is Q=171-20p+20pb+3pc+2y. using the estimated demand function for processed pork , show how the quantity demanded at a given price changes as per capital income, Y, increases by N100? (6 marks)
2.If the supply of corn is Qn= a + bp and the supply by the rest of the word is Qr=c+ep, what is the word supply? what is the world inverse supply? (6 marks)
3. The demand function for rose is Q=a-pb, and the supply function is Q=c+ep+ft, where a, b, c,e, and f are positive constants and t is the average temperature in a month. show how the equilibrium quantity and price vary with temperature? (8 marks)
2.If the supply of corn is Qn= a + bp and the supply by the rest of the word is Qr=c+ep, what is the word supply? what is the world inverse supply? (6 marks)
3. The demand function for rose is Q=a-pb, and the supply function is Q=c+ep+ft, where a, b, c,e, and f are positive constants and t is the average temperature in a month. show how the equilibrium quantity and price vary with temperature? (8 marks)
Two large international holiday companies have been planning to build hotel and leisure facilities
for tourist on one of the island’s beaches. Which is also a popular day-trip destination for local
families. The government tourism minister is keen to encourage these new developments in order
to ‘make best use of our resources’. He also believes that if the hotel companies take their money
elsewhere, this could lead to a loss of tourist coming to country A.
a) State 2 possible opportunity cost to the island of decision in favor of the hotel developments
b) Using the concepts of scarce resources and the opportunity cost, discuss whether increased
tourism may be the best use of the island resources in the long term.
for tourist on one of the island’s beaches. Which is also a popular day-trip destination for local
families. The government tourism minister is keen to encourage these new developments in order
to ‘make best use of our resources’. He also believes that if the hotel companies take their money
elsewhere, this could lead to a loss of tourist coming to country A.
a) State 2 possible opportunity cost to the island of decision in favor of the hotel developments
b) Using the concepts of scarce resources and the opportunity cost, discuss whether increased
tourism may be the best use of the island resources in the long term.
Diogo has a utility function , where A, α and β are constants, B is burritos, and Z is pizzas. If the price of burritos, Pb, is N$2 and the price of pizzas, Pz is N$1, and Y is N$100, what is Diogo’s optimal bundle?
The coconut demand function is Q=1200-9.5p+16.2pp+0.2y . Assume that p is initially $ 0.45 per kg, pp =$ 0.31 per kg and Q=1275 thousand matric tons per year. Calculate income elasticity of demand for coconut oil?
What is the effect of a $ 1 specific tax on equilibrium price and quantity if the demand is perfectly inelastic?
The demand function for rose isa Q=a-bp and the supply function is Q=c+ep+ft, where a,b,c,e and for are positive constant and the is an average temperature in a month. Show how the equilibrium quantity and price vary with temperature?
