Economics Answers

Private profit maximising firms, operating within competitive markets, form the backbone of the dynamic capitalism which is capable of generating sustained and everlasting growth in standards of living in societies.”

According to the Keynesian consumption function, a decrease in income will cause in savings and_______in consumption.

Why is increased savings and investment persieved as necessary but not sufficient condition for economic growth

Canada is a major producer of weed because the agricultural sector is so large relative to the size of the population they are also major exporter is not surprisingly they both had for open access to foreign markets between 1990 and 2000 agricultural goods and food by product exports increased by more than 100% to continue their strike they will have to not only win the Battle for lowered tariffs but also battling a world prices brought experience the heavy pressure of falling prices in order to remain competitive economy and farmers will have to continue to increase their own productivity does the problem of Us Farmers and their continual contribution to lower prices in an effort to maintain profitability through productivity increases is played out on the world stage as well show the international Financial institutions such as the wto interview in the international agricultural market to stabilize prices who will be held and who will suffer if it did

How does a firm decide whether to shut down production if it has zero fixed cost? What is the implication on entry and exit in this industry?

Which price control protects vulnerable labour from being exploited

Assuming that tax revenues are $7 Billion and Consumption is $60 Billion How much is the level of savings? (5mks)

Answer all the questions

1. Consider the general demand function: Qd = 3000 - 10P + 0.06M + 20Pr where Qd quantity demanded, P is price, M is money income and Pr is price of related goods.

i) Derive the equation for the demand function when A=$50,000 and Pr=$250

ii) Interpret the intercept and slope parameters of the demand function derived in part (i).

iii) Using the demand function in part (i) , calculate quantity demanded when the price of the good is $10.

(iv) Derive the inverse of the demand function in part (i). Using the inverse demand function calculate the demand price for 100 units of the good.

Suppose a woman marries her chief manservant. After they are married, her husband continues to wait on her as before, and she continues to support him as before (but as a husband rather than as an employee): How does marriage affect GDP?