Economics answers to 155 questions

Total cost per month is equal to sum of fixed and variable costs Variable costs per month are R 3 000 Fixed costs per month are R400 (its not per unit, its per month!) So, Total costs are 3 000+400=R3…

440-2Q=40+2Q 4Q=400 Q=100 SWL=P(tax)*Q=80*100=8000

Solution TC = (0.5r + √(rw) + 0.5w)q If the farmer's objective is to produce sh 10000 bags of maize, and fertilizer costs sh 1600 per bag and labour costs sh 100 per hour, then the amount of bags of…

According to the CBO (Congressional Budget Office) assessment, each American household had on average lost around $5,800 of income - The United States lost over $7 trillion in stock wealth - More than 5 million American citizens had lost their…

The efficient working of a free market economy requires that the producer firms must have incentives to work hard and produce goods and services at the lowest possible cost per unit of output Market economies provide incentives to the firms…