100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
ECS1501 ASSIGNMENT 6 SEMESTER 2 2022 $2.96   Add to cart
Quickly navigate to
Preview
  2.  
  3. University Of South Africa (Unisa)
  4.  
  5. ECS1501 - Economics IA

Exam (elaborations)

ECS1501 ASSIGNMENT 6 SEMESTER 2 2022

1 review
 275 views  12 purchases
  • Course
  • ECS1501 - Economics IA
  • Institution
  • University Of South Africa (Unisa)

This document contains all the answers and questions that you will need to complete assignment 6, semester 2 of 2022. For further assistance don't hesitate to contact me.

Preview 2 out of 10  pages

Document information

  • September 19, 2022
  • 10
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • guarantee pass
  • semester 2
  • 2022
  • assignment 6
  • ecs1501

Written for

  • University of South Africa (Unisa)
  • ECS1501 - Economics IA
All documents for this subject (228)

1  review

review-writer-avatar

By: ttakhopsy • 2 year ago

Some questions were not provided with answers

reply-writer-avatar

By: marthabruno • 2 year ago

Good day, I'm sorry that you are unhappy with the document. I just checked the document and all the question that I uploaded was provided with the correct answer. Every correct answer is in Bold. Can you please explain what you are referring to?

Seller

avatar-seller
marthabruno

Reviews received

Content preview

ECS1501: ASSIGNMENT 6 SEMESTER 2 2022


Suppose we observe that the equilibrium quantity of a good has increased significantly
in recent years, with little or no change in equilibrium price. The most likely explanation
is that supply and demand have both increased.

Note, that you will lose 50% of the mark for this question if you choose the incorrect
option.
If you are not sure about the answer and do not want to guess, choose the “Unsure”
option. You will neither receive marks for the question nor will you lose marks for
choosing this option.


a.
True

b.
False

c.
Unsure



When supply shifts to the right and demand stay constant, the equilibrium price
increases and the equilibrium quantity increases.

Note, that you will lose 50% of the mark for this question if you choose the incorrect
option.
If you are not sure about the answer and do not want to guess, choose the “Unsure”
option. You will neither receive marks for the question nor will you lose marks for
choosing this option.


True

False

Unsure

, Suppose that the wages of farm workers decrease at the same time that strawberries
experience a sudden burst of popularity. We conclude that both the price and the
quantity will decrease.

Note, that you will lose 50% of the mark for this question if you choose the incorrect
option.
If you are not sure about the answer and do not want to guess, choose the “Unsure”
option. You will neither receive marks for the question nor will you lose marks for
choosing this option.


True

False

Unsure


Two things occur simultaneously in the market for good A: 1. there is an increase in the
price of an important input in the production of good A and, 2. there is a decrease in the
price of a complement of good A. As a result, the equilibrium price of good A will either
increase, decrease, or stay the same, and the equilibrium quantity of good A will
increase.

Note, that you will lose 50% of the mark for this question if you choose the incorrect
option.
If you are not sure about the answer and do not want to guess, choose the “Unsure”
option. You will neither receive marks for the question nor will you lose marks for
choosing this option.


True

False

Unsure

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller marthabruno. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $2.96. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

78799 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$2.96  12x  sold
  • (1)
  Add to cart