Search & Filtering
How does globalisations affect the demand for high and low skilled workers across the globe
Part A
Using an appropriate formula, calculate this Consumer’s cross Elasticity of demand for Good A. Show your working.
to the original equilibrium price. What is the result of this legislation?
1. Maximize utility U(x, y, z) = 24yz +16xy +16xz
Subject to G (x, y, z) = xyz= 384
Saeed’s Bakery has a fire and Saeed loses some of his cost data. The bits of paper that he recovers after the fire provide the information in the following table (all the cost numbers are Rupees).
Q
AFC
AVC
ATC
MC
100
1200
1000
2200
800
200
A
B
1500
900
300
400
900
1300
1300
400
300
C
D
E
500
240
1080
1320
Saeed asks you to come to his rescue and provide the missing data in the five spaces identified as A, B, C, D, and E.
Consumer buys 10 units of Good A when the price of Good B is $5. When the price of Good B rises to $6 (the price of Good A remaining unchanged) the consumer buys 14 units of Good A.
The ingredients involve dried and canned beans. The beans contains plant-based proteins, B vitamins, magnesium, manganese, phosphorus, iron, copper and zinc. They pair well with a number of foods, making them hearty additions to soups, salads and grain dishes.
State whether the Statement is TRUE or FALSE. Also write the reason (Without reason your answer will not accepted)
a) If value of cross price elasticity is positive then it means there are less close substitutes are available of that product.
b) In case of luxury products, the own price elasticity of demand is greater than one.
c) If salaries of journalist go up then demand curve of newspaper will shift upward.
d) When price elasticity of supply is greater than one it means supply curve is flatter.
Did I correctly identify the prerequisite skills needed for today’s lesson?
Did I use appropriate methods to assess whether or not my students had
The prerequisite skills necessary
If salaries of journalist go up then demand curve of newspaper will shift upward.
truth or false .
