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
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 = R3.33 and Q = 500. b. P = R7 and Q = 160. c. P = R4 and Q £2.27   Add to cart
Quickly navigate to
Preview
  2.  
  3. University Of South Africa (Unisa)
  4.  
  5. Intermediate Microeconomics (ECS2601)

Exam (elaborations)

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 = R3.33 and Q = 500. b. P = R7 and Q = 160. c. P = R4 and Q
 7 views  1 purchase
  • Module
  • Intermediate Microeconomics (ECS2601)
  • Institution
  • University Of South Africa (Unisa)
  • Book
  • Study Guide for Microeconomics

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 = R3.33 and Q = 500. b. P = R7 and Q = 160. c. P = R4 and Q = 280. d. P = R3 and Q = 560. T...

[Show more]

Preview 4 out of 553  pages

Document information

  • September 14, 2024
  • 553
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ecs2601 assessment 3 semester 2 2024 bmz

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

  • 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 valu...
  • ECS2601 EXAM PACK 2022
  • ECS2601 MCQ EXAM PACK 2022
All for this textbook (4)

Written for

  • University of South Africa (Unisa)
  • Intermediate Microeconomics (ECS2601)
All documents for this subject (70)

Seller

avatar-seller
BMZAcademy

Reviews received

Content preview

BMZ ACADEMY




BMZ ACADEMY




@061 262 1185/068 053 8213



BMZ ACADEMY 061 262 1185/068 053 8213

,9/14/24, 10:45 AM Assessment 3 (page 1 of 15)




UNISA  2024  ECS2601-24-S2  Welcome Message  Assessment 3

QUIZ




Time left 0:43:30

Question 1
Answer saved

Marked out of 1.00




Consider the following demand and supply functions:

Demand: Qd = 440 - 40P, Supply: Qs = -120 + 40P. What is the equilibrium price and output?


a. P = R3.33 and Q = 500.

b. P = R7 and Q = 160.

c. P = R4 and Q = 280.

d. P = R3 and Q = 560.

Clear my choice




Question 2
Answer saved

Marked out of 1.00




The market supply curve is the vertical summation of all the individual supply curves.


Select one:
True

False




https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=22221190&cmid=990759 1/1

,9/14/24, 10:45 AM Assessment 3 (page 2 of 15)




UNISA  2024  ECS2601-24-S2  Welcome Message  Assessment 3

QUIZ




Time left 0:43:37

Question 3
Answer saved

Marked out of 1.00




In a certain textile firm, labour is the only short-term variable input. The manager notices

that the marginal product of labour is the same for each unit of labour, which implies that

…


a. the average product of labour is always greater that the marginal product of labour.

b. as more labour is used, the average product of labour decreases.

c. the average product of labour is always less than the marginal product of labour.

d. the average product of labour is always equal to the marginal product of labour.

Clear my choice




Question 4
Answer saved

Marked out of 1.00




Average total cost reaches a minimum where it intersects average variable cost.

Select one:
True

False




https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=22221190&cmid=990759&page=1 1/1

, 9/14/24, 10:45 AM Assessment 3 (page 3 of 15)




UNISA  2024  ECS2601-24-S2  Welcome Message  Assessment 3

QUIZ




Time left 0:43:43

Question 5
Answer saved

Marked out of 1.00




When output equals zero, total cost equals fixed cost.


Select one:
True

False




https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=22221190&cmid=990759&page=2 1/2

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 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 BMZAcademy. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £2.27. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67474 documents were sold in the last 30 days

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

Start selling
£2.27  1x  sold
  • (0)
  Add to cart