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3. What are the key points in a short-run production function that delineate the three stages
of production? Explain the relationship between the law of diminishing returns and the
three stages of production.
2. Define the law of diminishing returns. Why is this law considered a short-run phenomenon?
A. Critically evaluate whether DBN is fulfilling
its mandate?
B. In responding to global socioeconomic
development trends, what role in your view
should the DBN be playing?
Estimate the sales for 2022, 2023, 2024 and fit a linear regression equation and draw a trend line.
Years 2014 2015 2016 2017 2018 2019 2020 2021
Sales 22734 24731 31489 44690 51320 55330 65890 75800
second question
The demand for petrol rises from 500 to 600 Barrels when the price of a particular scooter is reduced from ETB 25,000 to ETB 22,000. Find out the cross elasticity of demand for the two. What is the nature of their relationship?
With reference to price elasticity of demand, answer the following questions: 3.4.1 Indicate what the two (2) main determinants are that price elasticity of demand depends on. (2) 3.4.2 With the aid of a diagram (draw the diagram), illustrate and explain what a linear demand curve is, where exactly the top of the curve is and where the bottom of the curve is, and how elasticity values (coefficients) vary on the curve from being infinitely (perfectly) elastic to unit elastic and finally to completely (perfectly) inelastic.
If good A and B are complements, an increase in the price of A, will result in
The impact of economic growth can be seen by the following issues except
Select one:
a. Increase in price
b. Increase in the demand for money
c. Increase in income
d. Increase in unemployment
What will be the budget line if P1 doubles and P2 becomes 8 times larger and income becomes 3times larger
What does the product 𝐿12×𝑖12 represent?
a.
Nothing. This expression is complete nonsense.
b.
the interest component of the 13𝑡ℎ payment
c.
The interest paid in the second year.
d.
the interest component of the 12𝑡ℎ payment
What does the difference 𝐿0−𝐿12 represent?
a.
The interest paid in the first year of the loan.
b.
The principal repaid in the first year of the loan.
c.
The principal repaid in the first 12 years of the loan.
d.
None of the other choices are correct
