ECON 312 – Intermediate Microeconomics Due date: 22-02-2100 ASSIGNMENT # 1 STUDENT’S NAME : Devon Rachae SECTION 1 Multiple Choice Questions 1. The theory of consumer behavior is based on certain assumptions. It includes at least the assumption(s) that preferences are: a. complete. b. transitive. c. intransitive. d. both (a) and (b) are correct. e. both (a) and (c) are correct. 2. A consumer prefers market basket A to market basket B‚ and prefers market
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Sure enough‚ we have all heard before how stress can actually drive people out of procrastination and inertia‚ and into achieving results. But‚ did you know that this claim only works if the pressure remains at a moderate amount? During the exams‚ it is easy for stress levels in children to escalate and spiral out of control as they might not know how to burn it off‚ except during play which they are going to get less of. Soon enough‚ you will find your kids suffering from weakened immune systems
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Test Version A SEMESTER I EXAMINATIONS Mid-Term Assessment ECON 30110 Microeconomics II Time Allowed: 50 minutes Instructions for Candidates This exam counts for 30% of the Module Grade. All questions carry equal marks. Note there is NO negative marking Correct answer is worth 1 mark. No answer or more than one answer‚ will both receive a 0 mark. Incorrect answer will receive a 0 mark. Attempt all 20 questions. Shade in the box in the appropriate space with
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Possible percentage error 10 −6 = × 100% 24 × 3600 = 1.16 × 10 % 1 (b) = 1 000 000 days 10 −6 –9 It would take 1 000 000 days to be in error by 1 s. (b) Percentage error 9 = × 100% 9 × 24 × 60 = 6.94 × 10–2% 4 (a) One day = 24 × 60 × 60 = 86 400 s Practice 1.2 (p. 15) 1 2 3 4 5 C B D D (b) One year = 365 × 86 400 = 31 500 000 s 5 Let t be the period of time recorded by a stop-watch. Percentage error = 0.4 × 100% ≤ 1% t t ≥ 40 s (a) Total distance she travels 2 × × 10
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Microeconomics Homework Problem 1: C(Q) = 100 + 20Q + 15Q^2 + 10Q^3 a) Fixed Cost (doesn’t change depending on output produced) = 100 b) Variable Cost of producing Q = 10 units: 20*10 + 15*10^2 + 10*10^3 = 200 + 1‚500 + 10‚000 = 11‚700 c) Total Cost of producing Q = 10 units: C(10) = 100 + 20*10 + 15*10^2 + 10*10^3 = 11‚800 Alternatively‚ we have Total Costs of Producing Q=10 units = Fixed Costs + Variable Costs of producing Q = 10 units = 100 + 11‚700 = 11‚800 d)
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Chapter 9‚ Problem 17 Jack Hammer invests in a stock that will pay dividends of $2.00 at the end of the first year; $2.20 at the end of the second year; and $2.40 at the end of the third year. Also‚ he believes that at the end of the third year he will be able to sell the stock for $33. What is the present value of all future benefits if a discount rate of 11 percent is applied? (Round all values to two places to the right of the decimal point.) Present value of a single amount PV = FV x PVIF
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This work of ECON 545 Week 4 Discussion Question 2 Healthcare includes: The healthcare sector is often cited as being fraught with just about every economic imperfection that is known to humankind. Can you identify and briefly describe ONE of these imperfections? Do you know of any examples? Is there a way healthcare can still be a for-profit business and still meet enough needs of the customers?Does this mean more government regulation? Business - General Business DEVRY ECON 545 Week 1 DQ
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in the price of Pepsi from $0.50 to $0.75 per 8-ounce can increases the average number of 8-ounce can coke demanded per captia per week from 4 to 8. Assuming that all other economic variables were held constant‚ calculate the arc cross-price elasticity of demand between Pepsi and coke. Exy = [(8 - 4)/(8 + 4)] / [(0.75 - 0.50)/(0.75 + 0.50)] = (4/12) / (0.25/1.25) = 1.67. The arc cross-price elasticity coefficient of 1.67 implies that a one-percent increase in the price of Pepsi would
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Seminar 2 Topics Covered: Heckscher-Ohlin Model Part I and II 1. This exercise uses the Heckscher-Ohlin model to predict the direction of trade. Consider the production of hand-made rugs and assembly line robots in Canada and India. Problem 1 Answer a) Which country would you expect to be relatively labor-abundant? Capital-abundant? Why? Labor-abundant: India. Capital-abundant: Canada b) Which industry would you expect to be relatively labor-intensive? Capital-intensive? Why? Handmade
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policy in terms of the aggregate demand-aggregate (AD-AS) model. Next‚ some fiscal policy measures that automatically adjust government expenditures and tax revenues when the economy moves through the business cycle phases are examined. Finally‚ problems‚ criticism‚ and complications of government’s fiscal policy are addressed. WHAT’S NEW The full-employment budget discussion has been revised and clarified in a section entitled “Evaluating Fiscal Policy.” Current real-world budget surpluses
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