Exam (elaborations)

ECS2601 ASSIGNMENT 4 SEMESTER 2 2024 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

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Course
Intermediate Microeconomics (ECS2601)

Institution
University Of South Africa (Unisa)

ECS2601 ASSIGNMENT 4 SEMESTER 2 2024 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. R50 b. R5 c. R1 ...

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intermediate microeconomics ecs2601

Institution
University of South Africa (Unisa)
Course
Intermediate Microeconomics (ECS2601)

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Education is the most powerful weapon which you can use to change the world

,10/6/24, 5:37 PM Assessment 4 (page 1 of 8)

UNISA  2024  ECS2601-24-S2  Welcome Message  Assessment 4

QUIZ

Question 1

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Suppose the supply curve for a good is completely inelastic. If the government imposed a price ceiling below the market-
clearing level, a deadweight loss would result.

Select one:
True

False

Question 2
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There can be constant returns to scale in an industry with an upward-sloping supply

curve.

Select one:
True

False

https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=22982853&cmid=990760 1/1

, 10/6/24, 5:37 PM Assessment 4 (page 2 of 8)

UNISA  2024  ECS2601-24-S2  Welcome Message  Assessment 4

QUIZ

Question 3

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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. R50

b. R5

c. R1

d. R100

Clear my choice

Question 4

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James knows the average total cost and the average variable cost for a given level of output. Which of the following costs
can he not determine given this information?

a. fixed cost

b. total cost

c. James can determine all of the above costs given the information provided.

d. average fixed cost

Clear my choice

https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=22982853&cmid=990760&page=1 1/1

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Exam (elaborations)

ECS2601 ASSIGNMENT 4 SEMESTER 2 2024 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

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