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 2 SEM 2 OF 2024 EXPECTED QUESTIONS AND ANSWERS R100,00   Add to cart
Quickly navigate to
Preview
  2.  
  3. University Of South Africa (Unisa)
  4.  
  5. ECS2601 - Microeconomics (ECS2601)

Exam (elaborations)

ECS2601 ASSESSMENT 2 SEM 2 OF 2024 EXPECTED QUESTIONS AND ANSWERS

4 reviews
 841 views  47 purchases

THIS DOCUMENT CONTAINS ECS2601 ASSESSMENT 2 SEM 2 OF 2024 EXPECTED QUESTIONS AND ANSWERS . CORRECT USE WILL HELP YOU SCORE ABOVE 75%

Last document update: 7 months ago

Preview 2 out of 114  pages

Document information

  • April 17, 2023
  • March 26, 2024
  • 114
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

All documents for this subject (132)

4  reviews

review-writer-avatar

By: ammaarahybham • 6 months ago

review-writer-avatar

By: zanelezeltha39 • 6 months ago

review-writer-avatar

By: teaciamohlala5 • 7 months ago

review-writer-avatar

By: asandiswalusiki • 1 year ago

Seller

avatar-seller
oscardiura

Reviews received

Content preview

Started on Tuesday, 26 March 2024, 2:16 PM
State Finished
Completed on Tuesday, 26 March 2024, 2:54 PM
Time taken 37 mins 56 secs
Marks 17.00/20.00
Grade 85.00 out of 100.00

Question 1
Suppose you are in charge of a toll bridge that costs essentially nothing to operate. The demand for bridge crossings Q is given by P = 15
Complete - 0.5Q.
M ark 1.00 out of If you were to draw a graph what will the y and x intercepts be.
1.00

Flag question OSCAR THE TUTOR
oscardiura@gmail.com
WHATSAPP: 0737560989
for FAC,MAC,ECS,TAX,QMI,FIN,INV,BNU,MNB STA MNG
tutoring
a. y = 30, x = 15

b. y = 0.5, x = 15
c. y = 15, x = 30
d. y = 15, x = 0.5




Question 2
Imagine that there are only three consumers in a particular market for apples: Andrew, John and Michael. We are interested in the
Complete demand for apples. The demand equations for the three consumers are as follows:
M ark 1.00 out of
1.00
Andrew: Qd = 10 - 2P
Flag question
John: Qd= 8 - P
Michael: Qd = 14 - 2P
If the price of apples is R3/kg, how much would the demand for the market as a whole be?

, a. 17
b. 22

c. 32
d. 27




Question 3 If two perfect complements, a keyboard and a computer, are being considered and the price of the keyboard only is increased, then the
Complete substitution effect of the price change will …
M ark 1.00 out of
1.00 a. be negative because keyboards and computers are perfect substitutes.
Flag question


b. be negative because keyboards are inferior goods.


c.
be 0 because it is impractical to have more keyboards and fewer computers.


d.
be positive because the consumer feels poorer.




Question 4
The substitution effect of a price decrease for a good with a normal difference curve pattern is graphed by …
Complete

M ark 0.00 out of
1.00
a. doing none of the above because the substitution effect cannot be graphed.
Flag question
b. drawing a new budget line parallel to the initial budget line but tangent to the indifferent curve attained at the new price.


c. drawing a new budget line tangent to the original indifference curve but at the slope of the new price of the good.

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 EFT, credit card or Stuvia-credit 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 this summary from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller oscardiura. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy this summary for R100,00. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

80461 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy summaries for 14 years now

Start selling
R100,00  47x  sold
  • (4)
  Buy now