100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
ECS2601 ASSIGNMENT 2 SEMESTER 2 2024 (IF YOU DONT GET 100% CONTACT US FOR A REFUND) 100% GUARANTEED Which is true about the output values of a production function? a. They represent only the value added of the two inputs that are represented. b. T$2.82
Add to cart
ECS2601 ASSIGNMENT 2 SEMESTER 2 2024 (IF YOU DONT GET 100% CONTACT US FOR A REFUND) 100% GUARANTEED Which is true about the output values of a production function? a. They represent only the value added of the two inputs that are represented. b. T
35 views 4 purchases
Course
Intermediate Microeconomics (ECS2601)
Institution
University Of South Africa (Unisa)
Book
Study Guide for Microeconomics
ECS2601 ASSIGNMENT 2 SEMESTER 2 2024 (IF YOU DONT GET 100% CONTACT US FOR A REFUND)
100%
GUARANTEED
Which is true about the output values of a production function?
a. They represent only the value added of the two inputs that are represented.
b. They overlook the role of a variabl...
ECS2601 ASSESSMENT 3 SEMESTER 2 2024 BMZ Consider the following demand and supply functions: Demand: Qd = 440 - 40P, Supply: Qs = -120 + 40P. What is the equilibrium price and output? a. P = R3.3...
Started on Friday, 30 August 2024, 3:13 PM
State Finished
Completed on Friday, 30 August 2024, 3:21 PM
Time taken 8 mins 8 secs
Marks 20.00/20.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Which is true about the output values of a production function?
a. They represent only the value added of the two inputs that are represented.
b. They overlook the role of a variable input into production.
c. They overlook the role of fixed inputs into production.
d. They are conceptually flawed and of marginal use because they do not consider
raw materials as input.
Question 2
Correct
Mark 1.00 out of 1.00
The substitution effect of a price decrease for a good with a normal indifference curve pattern …
a. is always inversely related to the price change.
b. is sufficient information to plot an ordinary demand curve for the commodity being considered.
c. is measured by the horizontal distance between the original and the new indifference curves.
d. measures the change in consumption of the good that is due to the consumer’s feeling of being richer.
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 BMZAcademy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.82. You're not tied to anything after your purchase.
