Economics Answers

a) Suppose the market demand curve for a product is given by 𝑄

𝑑 = 1000 − 10𝑃 and the market supply curve is given by 𝑄𝑠 = −50 + 25𝑃.

i. What are the equilibrium price and quantity [3Marks]

ii. What is the inverse form of the demand curve [2 Marks]

consumer has money income of USD 400 and consumes x and y with price of x and y are equals 2 and 5 respectively . U=X^1/3 Y^2/3

A) Calculate the demand function for x and y

B) calculate the utility maximize levels of x and y

C) compute the maximize utility that consumer drive from consumption of x and y

1. The table below gives the demand schedule of bags of cat food

Price

(RM per bag of cat food) | Quantity (bags of cat food per year) | Total Revenue (RM)

5 4

4 8

3 12

2 16

1 20

a. Complete the table by calculating the total revenue for each row.

b. Between which prices is demand elastic? Inelastic? Unit elastic?

Using the matrix X = [2,2,2,2,4,6] Calculate M = ( I2 - X(XT X) "-1" XT ) and show that M is an idempotent matrix (Do not convert fractions into decimal numbers). in Assignment Expert

This is an Accounting Question.

Compare and contrast the direct write-off method and the allowance method for bad debts. When is the expense for uncollected accounts receivable recognized under each method? Why is the direct write-off method not considered to follow generally accepted accounting?

Jennifer is planning how to spend a particularly rainy Sunday, and the choice is between watching video movies (each lasting two hours) or studying her economics textbook. She has 10 hours available to her. If she decides to study, she could read the following number of pages at the rate as shown in the table below.

Context Link: playspent.org.

Instructions: Click on Continue to Spent on the right side of the screen to start the game and play it all the way through. 

TIP: Keep an eye on the left-hand bar which keeps track of your progress and includes 3 options to get more money during the month.   

Questions: How did some of your initial decisions (job, health insurance, where to live) impact the rest of your month in ways you did not expect? Did you ever reach out to a friend for help? Why or why not? Describe a scenario in which you thought you were making a good decision but there was still a negative outcome. Describe a scenario that forced you to wrestle with your values. What was your ultimate decision and how do you feel about it? Explain. What is your main takeaway from playing Spent? 

In this homework activity you will examine what it is like living paycheck to paycheck.

Instructions: Go to playspent.org. Click on Continue to Spent on the right side of the screen to start the game and play it all the way through. 

TIP: Keep an eye on the left-hand bar which keeps track of your progress and includes 3 options to get more money during the month.       

Question: What is your main takeaway from playing Spent? 

In this homework activity you will examine what it is like living paycheck to paycheck.

Instructions: Go to playspent.org. Click on Continue to Spent on the right side of the screen to start the game and play it all the way through. 

TIP: Keep an eye on the left-hand bar which keeps track of your progress and includes 3 options to get more money during the month.       

Question: Describe a scenario that forced you to wrestle with your values. What was your ultimate decision and how do you feel about it? Explain.

In this homework activity you will examine what it is like living paycheck to paycheck.

Instructions: Go to playspent.org. Click on Continue to Spent on the right side of the screen to start the game and play it all the way through. 

TIP: Keep an eye on the left-hand bar which keeps track of your progress and includes 3 options to get more money during the month.       

Question: Describe a scenario in which you thought you were making a good decision but there was still a negative outcome.