Exam (elaborations)
ECS2601 ASSIGNMENT 5 SEMESTER 2 2024 (+A SOLUTIONS)
- Course
- Institution
ECS2601 ASSIGNMENT 5 SEMESTER 2 2024
[Show more]
Seller
Follow
excelgateinstitute
Reviews received
Content preview
EXCELGATE INSTITUTE 0846244729 iexcelgate@gmail.comPU E
SHI
NG Y L E NC
OU TO THE GATE OF EXC EL
Education is the most powerful weapon which you can use to change the world
,EXCELGATE INSTITUTE 0846244729 iexcelgate@gmail.com
WARNING: PLEASE NOTE THAT PLAGIARISM IS A SERIOUS ACADEMIC
OFFENSE, therefore students must use this document ONLY as a guideline. Hence
students have regenerated their own (personalized) solutions paying particular
attention to module contents as prescribed by module facilitators, lecturers and
supervisors. This document’s purpose is to compact all sources of information that
might be relevant to students’ assignments, hence additional knowledge on the
provided information is not restricted by the authors. However, submitting this
document as one’s final work is considered unethical, and students should be
penalized. If this document is plagiarized by the users and fails, EXCELGATE should
not be rendered accountable since the contents in this document only give learners a
kick-start on what is expected of them from their areas of specialty.
CAUTION: STUDENTS ARE NOT MANDATED TO USE EVERY DETAIL IN THIS
DOCUMENT IN WRITING THEIR ASSIGNMENTS.
Education is the most powerful weapon which you can use to change the world
,10/31/24, 7:05 AM Assessment 5 (page 1 of 8)
UNISA 2024 ECS2601-24-S2 Welcome Message Assessment 5
QUIZ
Question 1
Answer saved
Marked out of 2.00
Which of the following statements is incorrect about a firm operating in a
perfectly competitive market?
a. The firm is a price taker.
b. The demand schedule is perfectly elastic.
c. There is no government intervention.
d. A price higher than the marginal cost is charged.
Clear my choice
Question 2
Answer saved
Marked out of 3.00
A firm faces the following average revenue (demand) curve:
P = 120 – 0.02Q
where Q is weekly production and P is price, measured in cents per unit. The
firm’s cost function is given by C = 60Q + 25,000. Assume that the firm
maximizes profits.
What is the level of Profit?
a. 377 800 cents per week.
b. 20 000 cents per week.
c. 8 750 cents per week.
d. 25 000 cents per week.
Clear my choice
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=23427602&cmid=990761 1/1
, 10/31/24, 7:05 AM Assessment 5 (page 2 of 8)
UNISA 2024 ECS2601-24-S2 Welcome Message Assessment 5
QUIZ
Question 3
Answer saved
Marked out of 2.00
If the gains to producers from monopoly power could be redistributed to
consumers, there will be no social cost of monopoly power or a deadweight
loss to society.
Select one:
True
False
Question 4
Answer saved
Marked out of 2.00
The kinked demand curve model of oligopoly assumes that the elasticity of
demand …
a. is constant regardless of whether price increases or decreases.
b. is perfectly elastic if price increases and perfectly inelastic if price
decreases.
c. in response to a price increase is less elastic than the elasticity of
demand in response to a price decrease.
d. in response to a price increase is more elastic than the elasticity of
demand in response to a price decrease.
Clear my choice
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=23427602&cmid=990761&page=1 1/1
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 excelgateinstitute. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.85. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
57413 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now