Economics Answers

Find the integral of (y2 -1) dx-2dy = 0

When the price of a good increased by 50 percent, quantity demanded decreased by 100 percent. What is the absolute value of the price elasticity of demand?

*Production volume for product A was estimated at 1000 units.

*Only 80% production was achieved.

*Each unit of product A requires 0.5 hours at an hourly rate of N$8.50

*80% production volume was produced at 45 minutes per unit at an hourly rate of N$8.00

*Buys raw materials from local suppliers at N$3.50 per kilogram

*Each unit requires 1.5 kilograms

*Two Kilograms were used per unit

*Total monthly budgeted manufacturing overheads costs amounted to N$950

*Actual monthly manufacturing overheads cost was N$1200

*Lungameni Enterprises production manager view that manufacturing overheads cost be absorbed on basis of direct labour costs. There was no opening inventory and all units produced were sold.

Required:

1.For the information above calculate the gross profit / loss

2.Any recommendation for Lungameni Enterprise production manager?

*Production volume for product A was estimated at 1000 units.

*Only 80% production was achieved.

*Each unit of product A requires 0.5 hours at an hourly rate of N$8.50.

*80% production volume was produced at 45 minutes per unit at an hourly rate of N$8.00

*Buys raw materials from local suppliers at N$3.50 per kilograms.

*Two kilograms were used per unit.

*Total monthly budgeted manufacturing overheads costs amounted to N$950

*Actual monthly manufacturing overheads cost was N$1200

*Lungameni Enterprises production manager view that manufacturing overheads costs be absorbed on basis of direct labour cost. There was no opening inventory and all units produced were sold.

Required:

1.For the information above calculate the gross profit / loss.

2.Any recommendation for Lungameni Enterprise production manager

Use micro (and relevant macro) economic analysis to justify your decision of relocating your business from one country to a particular country.

Explain the determination of equilibrium level of GDP using the aggregate expenditure approach and the savings investment approach in a two sector model. Do you think that equilibrium will always occur at full employment level of output?

Assume inflation in Turkey is 50% and 2% in the US. Using the relative PPP, 

 a) Calculate the exchange rate (R= TL/$) and the exchange rate (R= $/TL).  

b) Assume that the Turkish inflation  increases to 100% while the US  inflation remains at 2%, calculate the  new exchange rate between the Turkish Lira and the US dollar.

If the demand and supply curve for T-Shirts at Nagindas Store are:

D = 100 - 6P, S = 28 + 3P

Where P is the price of T-Shirts in dollars ($), what is the quantity of T-Shirt bought and sold at

equilibrium?

Q

To compute economic profits, which costs are used?

1.     An average worker in Brazil can produce an ounce of soybeans in 20 minutes and an ounce of coffee in 60 minutes, while an average worker in Peru can produce an ounce of soybeans in 50 minutes and an ounce of coffee in 75 minutes.

a.     Who has the absolute advantage in coffee? Explain.

b.     Who has the comparative advantage in coffee? Explain.

c.      If the two countries specialize and trade with each other, who will import coffee? Explain.

d.     Assume that the two countries trade and that the country importing coffee trades 2 ounces of soybeans for 1 ounce of coffee. Explain why both countries will benefit from this trade.