Economics Answers

What is the structure of the business cycle in Belize?

explain the the exchange rates between rand and us dollar

What are the prospects for economic growth in South Africa over the medium term? Evaluate and discuss the most pertinent influencing factors, referring also to how these factors impacted SA’s growth during the periods 2004 to 2007 and 2015 to 2019

Evaluate the prospects for economic growth in South Africa over the medium term.

What are the prospects for economic growth in South Africa over the medium term?

Is curve

Which one of the following costs would be classified as an indirect cost of the quality control activity which is undertaken in a company’s factory?

Select one:

A.

The depreciation of the quality testing machine.

B.

The insurance of the factory.

C.

The cost of samples destroyed during testing.

D.

The salary of the quality control machine.

A firm has the following demand function 𝑷 = 𝟔𝟎 − 𝟎. 𝟓𝑸 and its total cost are

defined by 𝑻𝑪 = 𝟏𝟑 + 𝑸.

a. Find the maximum revenue.

b. Find the production to optimise the profit.

c. Verify if that the marginal revenue and marginal cost are the same at

the profit maximising production level.

A Firm has the following production function 𝑸 = 𝟐𝟎𝑳 − 𝟎. 𝟒𝑳 𝟐.

a.Using differential calculus find the unit of labor that maximizes the production.

b. Estimate function of Marginal product of labor.

c. Obtain the Average product of labor.

d. Find the point at which the marginal product of labor is equal to the average cost. 

The intent of this exercise is to get students to think aboutvarying degrees of elasticity and the factors that determine demand elasticity.