100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
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 £2.26
Add to cart
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
24 views 2 purchases
Module
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
...
EXCELGATE INSTITUTE 0846244729 iexcelgate@gmail.com
PU 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
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
Answer saved
Marked out of 2.00
There can be constant returns to scale in an industry with an upward-sloping supply
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
Answer saved
Marked out of 2.00
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.
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 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 £2.26. You're not tied to anything after your purchase.
