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A firm producing hockey sticks has a production function given by
q=2√kl
The price of labor is “w”, the price of capital is “v”. For any given level of output “q”:
1. Calculate the firm’s long-run total, average and marginal cost function.
2. Please show the cost function is homogeneous of degree 1 in input prices.
Who receives tax from the employees?
Who provide labour to government?
Who sell goods and services to other participants?
paul spend his income of 100$ per week on two goods : pizza ( which cost $8each ) and milk( which cost $1 per gallon) at his current level of consumption , the marginal utility from the last pizza consumed is 32 and the marginal utility from the last gallon of milk is 4. is colin maximizing his utility? why or why not? if not , what should paul do to achieve a higher level of utility ?
Suppose there are only three firms in an economy. Firm A grows crops and extracts minerals from its land with no inputs from other firms. Its sales are $200million annually, half of which goes to households and half to firms B and C in equal amounts. Firm B buys inputs from A and sells its entire output of $400million to Firm C. Firm C buys inputs from A and B and sells its $900million output directly to consumers (though 20% of this is overseas). What is GDP at basic prices? If there is only one tax – VAT at 10% - what is GDP at market prices
If a company increases its workforce from 10 to 17 workers and as a result the total output changes from 30 units to 44 units, what is the marginal product for the increased workers?
Describe the purpose of apec?
a-to establish uniform currency
b-to regulate equal treatment of member countries
c-remove border control among member countries
d-reduce tariffs among member countries
suppose that the demand curve facing OPEC is given by P=120-2Q and that each members cost of producing oil is AC=MC=$20.Find the cartels profit maximizing total output and price. Of instead of keeping to this output, all members overproduced their quotas by 20 percent,what would be the effect on OPEC's total profit?
In today’s situation of Covid -19 Pandemic when the offline world is affected severely.
Kindly throw light over the online system of consumer behaviour with respect to the given questions:
a. Consumer behaviour with respect to online shopping of grocery items. (5 Marks)
b. Consumer behaviour with respect to online education. (5 Marks)
What factors militate against the effective compliance with continuous assessment standard by
Economics teachers in South Africa?
In what ways can the Economics teachers be assisted to improve on their skills in continuous
assessment practice with a view to enhance learners’ optimum performance?
