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Why is it important that South Africa should be consideration of USA’s decisions
when deciding on its monetary policy stance?
, is simply determined from a cut-off point in the welfare
distribution, like the income or consumption level below which, a certain per
cent of the population is located.
a) Discuss the 3 types of data used in economics.
Discuss the 3 types of data used in economics.
“Substitution effect of any commodity is positive for a given a price change”. Explain the validity of this statement using appropriate illustrations.
Explain the relationship between the Price Consumption Curve and the demand curve.
Describe how the Income Consumption Curve and the Engel Curve are related.
What are three main rating agencies
Following information shows that a firm offering a good at different prices
to groups of consumers with different levels of willingness to pay.
Inverse Demand for movies: P1 = 20 – 4Q1
Inverse Demand for students: P2 = 10 – Q2
MC = 4Q LKR /ticket
(a) What price and quantity and maximizes profits if the firm charges each
market?
(b) Demonstrate that charging different prices for the two groups results in
higher profits than charging the same price for everyone.
(c) Graph the demand curves, the marginal revenue curves, the marginal cost
curve and highlight the equilibrium.
Explain the characteristics of perfect competitive market
