Exam (elaborations)
ECS2601 ASSIGNMENT 5 SEM 1 2024
- Course
- Institution
ECS2601 ASSIGNMENT 5 SEM 1 2024
[Show more]
Seller
Follow
letsoalotebogo910
Reviews received
Content preview
1. UNISA2. 2024
3. ECS2601-24-S1
4. Welcome Message
5. Assessment 5
QUIZ
Assessment 5
Open course index
Open block drawer
Back
Started on Saturday, 18 May 2024, 5:16 PM
State Finished
Completed on Saturday, 18 May 2024, 6:08 PM
Time taken 51 mins 8 secs
Marks 28.00/30.00
Grade 97.33 out of 100.00
Question 1
Complete
Mark 2.00 out of 2.00
The market supply curves and market
demand curves for books are given as
follows:
Supply curve: P = 0.000002Q Demand
curve: P = 11 – 0.00002Q
The short-run marginal cost curve: MC =
0.1 + 0.0009Q
The equilibrium price of books is …
a. R5
b. R100
c. R50
d. R1
, Question 2
Complete
Mark 0.00 out of 2.00
Suppose a pro�t-maximising perfect
competitor’s daily output level to make a
pro�t is 100 units per day. Which of the
following statements is FALSE?
a. The perfect competitor’s average
�xed cost (AFC) for each unit of
output will equal the gap between
its SAC and average variable cost
(AVC) curves at an output of 100
a day.
b. The perfect competitor’s total
cost (TC) will equal its AVC at an
output of 100 a day multiplied by
100.
c. The perfect competitor’s pro�t per
unit of output will equal the gap
between its average revenue (AR)
curve and its short-run average
cost (SAC) curve at an output of
100 a day.
d. The perfect competitor’s total
revenue (TR) will equal its AR at
an output of 100 a day multiplied
by 100.
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 letsoalotebogo910. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.83. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79223 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now