Consumer surplus Samenvattingen, Aantekeningen en Examens
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ECS2603 Assignment 4 Semester 2 2023 (Solutions/answers)
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ECS2603 Assignment 4 Semester 2 2023 (Solutions/answers) 
 
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Question 1 
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Which of the following statements with regards to inflation are correct? 
Inflation is defined as a sustained increase in the general price level. This implies that for inflation to occur, it is 
sufficient for only the price of oil to increase. 
Inflation is a sustained increase in the general price level. This means that there is an overall increa...
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ECS2601 Assignment 4 Semester 2 (ANSWERS)
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ECS2601 Assignment 4 Semester 2 (ANSWERS) 
 
Question 1 
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When a profit-maximising firm is at its short run optimum, 
a. 
none of the options will be true. 
b. 
the average cost of the product is at its lowest possible point, whether a profit is being made or not. 
c. 
the profit per unit of output will be at its maximum possible level. 
d. 
the firm will be shut down if its price is less than the average fixed cost. 
Question 2 
Comp...
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ECS2601 ASSESSMENT 5 SEMESTER 1 2024 SEARCHABLE A tuckshop near Unisa offers lunch specials to first-year students. If students showed their ID cards, they would receive 10% off the cost of their lunch. This practice is anexample of Suppose that an indu
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ECS2601 ASSESSMENT 5 SEMESTER 1 2024 SEARCHABLE 
 
A tuckshop near Unisa offers lunch specials to first-year students. If students showed their ID cards, they would receive 10% off the cost of their lunch. This practice is anexample of 
 
Suppose that an industry is characterized as follows: 
C = 100 + 2q2 each firm’s total cost function 
MC = 4q firm’s marginal cost function 
P = 90 – 2Q industry demand curve 
MR = 90 – 4Q industry marginal revenue curve 
If there is only one firm in th...
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CIC Agency Management Exam- All Lessons
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Explain the Organizational Structures available to Agencies - ANSWER-Sales vs. Service Oriented 
Large Agencies vs. Small Agencies 
Publicly Traded vs. Privately Held 
 
Explain the Federal and State Regulations on Agencies - ANSWER-Licensing Regulations by State 
Regulators protect the consumer by making a viable insurance marketplace and monitoring interstate commerce 
 
Five Stages of Agency Growth - ANSWER-1 - Existence - Owner does everything, must be creative to survive 
 
2 - Survival - m...
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RMIN 4000 Test 2 Daniel Brown (2024/2025) 100% Solved
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RMIN 4000 Test 2 Daniel Brown 
(2024/2025) 100% Solved 
 
Stock Insurer Corporation owned by Stockholders (earn profit for stockholders by 
increasing the value of the stock and paying dividends). 
 
Mutual Insurer Corporation owned by Policyholders (profits are distributed to policyholders 
by dividends or rate reductions). 
Advance Premium Mutual 
Assessment Mutual 
Fraternal Insurer 
 
Lloyd's of London Specialized lines of business. 
 
Brokers represent policyholders to arrange coverage wit...
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ECON 705 LSUS MODULE 7 - FINAL EXAM QUESTIONS WITH COMPLETE SOLUTIONS
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Price Discrimination CORRECT ANSWER Charging different buyers different prices for the same unit or charging the same buyer different prices for each unit or blocks of units 
 
First-Degree Price Discrimination CORRECT ANSWER charging the maximum price that each buyer is willing to pay for each unit purchased; buyer's reservation price; 5 for 1st; 4 for 2nd object; 3 for third object etc.; difficult in practice 
 
Buyer's Reservation Price CORRECT ANSWER the price charged in first-degree price...
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Test Bank for Issues in Economics Today, 10th Edition by Robert Guell
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Test Bank for Issues in Economics Today 10e 10th Edition by Robert Guell. ISBN-13: 0623 
 
Full Chapters test bank are included 
 
Chapter 1: Economics: The Study of Opportunity Cost 
 
Chapter 2: Supply and Demand 
 
Chapter 3: The Concept of Elasticity and Consumer and Producer Surplus 
 
Chapter 4: Firm Production, Cost, and Revenue 
 
Chapter 5: Perfect Competition, Monopoly, and Economic versus Normal Profit 
 
Chapter 6: Every Macroeconomic Word You Ever Heard: Gross Domes...
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AQA AS ECONOMICS 7135/1 Paper 1 The Operation of Markets and Market Failure Question Paper + Mark scheme [MERGED] June 2022 *jun227135101* IB/M/Jun22/E6 7135/1 For Examiner’s Use Section Mark A B TOTAL Time allowed: 1 hour 30 minutes
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AQA 
AS 
ECONOMICS 
7135/1 
Paper 1 The Operation of Markets and Market Failure 
Question Paper + Mark scheme [MERGED] 
June 2022 
*jun* 
IB/M/Jun22/E6 7135/1 
For Examiner’s Use 
Section Mark 
A 
B 
TOTAL 
Time allowed: 1 hour 30 minutes 
Materials 
For this paper you must have: 
• the Insert 
• a calculator. 
Instructions 
• Use black ink or black ball-point pen. Pencil should only be used for drawing. 
• Fill in the boxes at the top of this page. 
• Answer all questions in Secti...
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ECON 705 LSUS MODULE 7 - FINAL EXAM QUESTIONS WITH CORRECT ANSWERS
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Price Discrimination CORRECT ANSWER Charging different buyers different prices for the same unit or charging the same buyer different prices for each unit or blocks of units 
 
First-Degree Price Discrimination CORRECT ANSWER charging the maximum price that each buyer is willing to pay for each unit purchased; buyer's reservation price; 5 for 1st; 4 for 2nd object; 3 for third object etc.; difficult in practice 
 
Buyer's Reservation Price CORRECT ANSWER the price charged in first-degree price...
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WGU C211 OA Global Economics Exam (2023) (Verified Answers)
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Which political view of foreign direct investment (FDI) is most widely used by 
governments in the current international business environment? - Correct answerProtectionism 
Which factors predict the degree of rivalry between a pair of competitors? 2 choices - 
Correct answer-Market commonality and Cost structure 
Which factors predicts how local firms in emerging economics will respond to 
multinational competitors? Competitive assets and industry pressures to globalize - 
Correct answer-Market...