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1. The marginal cost of a trader has been found to be MC = 3Q2 +8Q+ 400 . Determine the total variable cost of producing 100 units of the trade’s product.
2. If the fixed cost of manufacturing a product is ETB 10, 000 and the marginal cost at Q units of output is ETB(60+2.5Q). Find:
a. The function for the total cost of manufacturing x units.
b. The total cost of 200 units.
1. The marginal cost of a trader has been found to be MC = 3Q2 +8Q+ 400 . Determine the total variable cost of producing 100 units of the trade’s product.
2. If the fixed cost of manufacturing a product is ETB 10, 000 and the marginal cost at Q units of output is ETB(60+2.5Q). Find:
a. The function for the total cost of manufacturing x units.
b. The total cost of 200 units.
3. Imagine a perfectly competitive firm producing good A with cost function TC=400+20Q-2Q 2 +2/3Q 3 , where Q is quantity produced
a. determine the firm’s short run supply curve
b. What is the profit maximizing level of output when price of A is birr 180?
3. Prepare to adjust entries for the following additional information:
a. Uncollectible accounts are estimated to be 3% of Total Revenue.
b. Supplies used for the year amounted to P5,000.00.
c. Rent for 1 month has expired.
d. Insurance for 1 month has expired.
e. Computer equipment has a P1,000.00 salvage value and has an estimated useful life of 3 years.
f. Service vehicle has a 5,000.00 salvage value and has an estimated useful life of 8 years.
g. Office equipment has an estimated useful life of 5 years with no salvage value.
4. Prepare closing entries.
5. Prepare a worksheet. (Unadjusted Trial Balance, Adjusting Entries, Adjusted Trial Balance, Closing Entries, Post-
closing Trial Balance)
6. Prepare the income statement, statement of changes in capital, and balance sheet.
On 3rd December,2021, the new Dawn government and the IMF mission to Zambia reached a staff level agreement on a programme under the IMF's Extended Credit Facility (ECF) that envisages provision of financial support of $1.4bn over the next three (3) years. Taking into account the anticipated IMF conditionalities, What implications will such an agreement have on the general economy outlook of Zambia? To what extent do you approve or disapprove such an agreement.
Note: your answers should not be more than 2 pages.
. Discuss the issues and challenges faced with regard to implementation to the Right to Education.
Explain how investment(I) in the economy is supported from saving(S) by (i) the private sector (ii) government sector and (iii) current account balance
The sales and distribution team of the company i-Ace Solutions forecasted the demand of one of their products,
product-A at their four big retailers, in the next quarter. Accordingly, they also collected the data of the supply
capacity of their various distributors.
It was observed that the demands for retailer1, retailer 2, retailer 3 and retailer 4 are 6, 10, 15 and 4 quintals
respectively. Similarly, the supply capacities of the three suppliers S1, S2 and S3 are 14, 6 and 5 quintals
respectively.
The table 2 given above mentions the transportation cost involved in transporting one quintal of item A from
each distributor (S1, S2 and S3) to each retailer (R1, R2, R3 and R4).
Using North-West corner method determine an initial basic feasible solution of the transportation problem and
the total transportation cost.
An industry currently has 100 firms, each of which
has fixed costs of $16 and average variable costs as
follows:
Quantity Average Variable Cost
1 $1
2 2
3 3
4 4
5 5
6 6
d. Graph the long-run supply curve for this market,
with specific numbers on the axes as relevant.
The residents of the town Ectenia all love economics,
and the mayor proposes building an economics
museum.
The museum has a fixed cost of $2,400,000
and no variable costs. There are 100,000 town residents,
and each has the same demand for museum visits:
QD = 10 − P, where P is the price of admission
A labour market has 50,000 people in the labour force. Each month, a fraction p of employed
workers become unemployed (0 < p < 1) and a fraction q of unemployed workers become employed
(0 < q < 1).
(a) What is the steady-state unemployment rate?
(b) Under the steady-state, how many of the 50,000 in the labour force are employed and how many are employed each month? How many of the unemployed become employed each month?
(c) Suppose p = 0.08 and q = 0.32. What is the steady-state unemployment rate and how many workers move from employment to unemployment each month
