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Explain the effect on the production of ice cream, if the price of raw milk decreases.
Also illustrate in the graph.
Breakfast Cereal and Bread Loaf. She is currently consuming 12 packets of
Cereal and 16 bread loafs a week. If the price of Cereal increases (and
everything else stays the same) we would expect Amrita to consume fewer
bread loafs per week. Do you agree? Why/Why not?
willing to pay €30,000 for one, buyer 2 is willing to pay €25,000 for one, and
buyer 3 is willing to pay €20,000 for one. If the price is €25,000, how many
flats will be sold and what is the value of consumer surplus in this market?
Make up an example of a monthly demand schedule for pizza, and graph the implied demand curve. Give an example of something that would shift this demand curve, and briefly explain your reasoning. Would a change in the price of pizza shift this demand curve?
Use a supply and demand diagram for a specified competitive market to demonstrate the effect of the specific shocks given in the cases below on the equilibrium price and quantity. Clearly explain the key adjustments in demand and supply curves that result. Show whether there is a shift in the demand curve, the supply curve, or neither.
An abrupt heat wave smashes the city of Lusaka. Show the effect in the ice cream market in Lusaka.
spend two hours going to the beauty parlour, having a couple of pizzas, or
going to a movie. She can do one, all, or any two of these things. The question
is, what should she do? The marginal utility of the beauty parlour service is
36 utils and the price is $6. The marginal utility of the two pizzas is 24 utils
and the price is $4 for two pizzas. The marginal utility of going to the movie
is 40 utils and the price is $10. Ruby's marginal utility of a dollar is 5 utils per
dollar.
Critically analyse the South African economy using the discussion on South African economy given.
An economy is an area of:SA as mixed economy
(1) production- the process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (output). It is the act of creating an output, a good or service which has value and contributes to the utility of individuals,
(2) distribution (the way total output, income, or wealth is distributed among individuals or among the factors of production ,such as labour, land, and capital)and;
(3) trade ( the transfer of goods or services from one person or entity to another, often in exchange for money), as well as
Explain the effect on the production of ice cream if the price of raw milk decreases. Also, show the effect on the graph.
