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ECS1501 ASSESSMENT 10 2024 semester 2 If the price is R10 per bottle the industry is in long-run equilibrium. the industry has minimized average total cost. rms will exit the industry. rms will enter the industry. Lerato purchases a combination ofR50,00
ECS1501 ASSESSMENT 10 2024 semester 2 If the price is R10 per bottle the industry is in long-run equilibrium. the industry has minimized average total cost. rms will exit the industry. rms will enter the industry. Lerato purchases a combination of
ECS1501 ASSESSMENT 10 2024 semester 2
If the price is R10 per bottle
the industry is in long-run equilibrium.
the industry has minimized average total cost.
rms will exit the industry.
rms will enter the industry.
Lerato purchases a combination of eyeliner and lipstick such that MU
...
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,Question 2
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Look at the table for blistering blue bottles.
Blistering blue bottles Total cost
0 2
1 7
2 11
3 13
4 16
5 21
6 28
7 38
If the price is R10 per bottle
the industry is in long-run equilibrium.
the industry has minimized average total cost.
firms will exit the industry.
firms will enter the industry.
Clear my choice
, ECS1501-24-Y Assessments Assessment 10
QUIZ
Time left 0:08:02
Question 3
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Lerato purchases a combination of eyeliner and lipstick such that MUeyeliner/ Peyeliner = 250 and MUlipstick/Plipstick = 300. To
maximise utility, she should buy _____ eyeliner and _____ lipstick.
less; less
more; less
less; more
more; more
Clear my choice
Question 4
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This question is based on the following table showing Cobus’ consumption of biltong sticks.
Number of 0 1 2 3 4 5 6 7
biltong
sticks
Total utility 0 20 35 45 50 50 45 35
Cobus’ marginal utility becomes negative when he eats ____ biltong sticks.
Answer: 6
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