100% de satisfacción garantizada Inmediatamente disponible después del pago Tanto en línea como en PDF No estas atado a nada
logo-home
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 value added of the two inputs that are represented.  b. T 2,70 €   Añadir al carrito

Examen

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 value added of the two inputs that are represented.  b. T

 35 vistas  4 veces vendidas
  • Grado
  • Institución
  • Book

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 value added of the two inputs that are represented.  b. They overlook the role of a variabl...

[Mostrar más]

Vista previa 4 fuera de 137  páginas

  • 31 de agosto de 2024
  • 137
  • 2024/2025
  • Examen
  • Preguntas y respuestas
avatar-seller
BMZ ACADEMY




BMZ ACADEMY




@061 262 1185/068 053 8213



BMZ ACADEMY 061 262 1185/068 053 8213

,8/30/24, 3:25 PM Assessment 2: Attempt review




UNISA  2024  ECS2601-24-S2  Welcome Message  Assessment 2

QUIZ




Started on Friday, 30 August 2024, 3:13 PM
State Finished
Completed on Friday, 30 August 2024, 3:21 PM
Time taken 8 mins 8 secs
Marks 20.00/20.00
Grade 100.00 out of 100.00


Question 1
Correct

Mark 1.00 out of 1.00




Which is true about the output values of a production function?


a. They represent only the value added of the two inputs that are represented. 

b. They overlook the role of a variable input into production.

c. They overlook the role of fixed inputs into production.

d. They are conceptually flawed and of marginal use because they do not consider

raw materials as input.




Question 2
Correct

Mark 1.00 out of 1.00




The substitution effect of a price decrease for a good with a normal indifference curve pattern …


a. is always inversely related to the price change. 



b. is sufficient information to plot an ordinary demand curve for the commodity being considered.

c. is measured by the horizontal distance between the original and the new indifference curves.

d. measures the change in consumption of the good that is due to the consumer’s feeling of being richer.




https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=21604504&cmid=990758 1/7

,8/30/24, 3:25 PM Assessment 2: Attempt review

Question 3

Correct

Mark 1.00 out of 1.00




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




a. drawing a new budget line tangent to the indifference curve attained at the new price.

b. drawing a new budget line parallel to the initial budget line but tangent to the indifferent curve attained at the new

price.



c. doing none of the above because the substitution effect cannot be graphed.

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




Question 4
Correct

Mark 1.00 out of 1.00




Employee contracts are an example of a fixed factor in the short run.

Select one:
True 

False




Question 5
Correct

Mark 1.00 out of 1.00




A market demand curve is the vertical summation of all the individual demand curves for the product.


Select one:
True

False 




https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=21604504&cmid=990758 2/7

, 8/30/24, 3:25 PM Assessment 2: Attempt review

Question 6

Correct

Mark 1.00 out of 1.00




The marginal rate of technical substitution is likely to remain constant as more additional labor is substituted for capital.



Select one:
True

False 




Question 7
Correct

Mark 1.00 out of 1.00




If good X consumes a large portion of the budget, a price increase of X…




a. has a very large substitution effect, because consumers cannot easily absorb the expense of the price increase and
so they substitute.

b. has a small substitution effect since large budget items have few substitutes.

c. has a large income effect, because the consumer budget is heavily affected by price increases in big-ticket 
items.

d. has a small income effect because the income effect is measured with nominal income constant.




Question 8
Correct

Mark 1.00 out of 1.00




In consumer theory, utility is illustrated by indifference map  ; while in production theory, production is illustrated by

the isoquant map  .




https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=21604504&cmid=990758 3/7

Los beneficios de comprar resúmenes en Stuvia estan en línea:

Garantiza la calidad de los comentarios

Garantiza la calidad de los comentarios

Compradores de Stuvia evaluaron más de 700.000 resúmenes. Así estas seguro que compras los mejores documentos!

Compra fácil y rápido

Compra fácil y rápido

Puedes pagar rápidamente y en una vez con iDeal, tarjeta de crédito o con tu crédito de Stuvia. Sin tener que hacerte miembro.

Enfócate en lo más importante

Enfócate en lo más importante

Tus compañeros escriben los resúmenes. Por eso tienes la seguridad que tienes un resumen actual y confiable. Así llegas a la conclusión rapidamente!

Preguntas frecuentes

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.

100% de satisfacción garantizada: ¿Cómo funciona?

Nuestra garantía de satisfacción le asegura que siempre encontrará un documento de estudio a tu medida. Tu rellenas un formulario y nuestro equipo de atención al cliente se encarga del resto.

Who am I buying this summary 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 this summary for 2,70 €. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

45,681 summaries were sold in the last 30 days

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

Empieza a vender

Vistos recientemente


2,70 €  4x  vendido
  • (0)
  Añadir