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Individual homework (Ñâè÷êàðü Ì.)

Variant 4

1.Functions of demand and supply are: Qs = 1000 + 20 P; Qd = 200 + 30 P. Find the price and volume of equilibrium. What will happen if supply curve shifts to the right?

 

2.Find average fixed, average variable, average total costs and profit of firm according such data (per year):

· Expenditures on raw materials – 150 th. doll.

· Expenditures on lighting – 10 th. doll.

· Transport expenditures – 20 th. doll.

· Wages of directors board – 70 th. doll.

· Wages of piece-workers 200 th. doll.

· Value of equipment – 3 bil. doll.

· Term of equipment exploitation is 10 years.

· Rent payments – 10 th. doll.

· Total output – 2.5 th. units.

· Market price of one unit – 500 doll.

 

A general rule for optimization is, If

a. MC >MB, do it!

b. MB < MC, do it!

c. MB > MC, do it!

d. MB < MC, don’t do it!

 

The determinants of demand include

a. Supply of the good

b. Prices, incomes, preferences

c. The number of sellers in the market

d. All the above

Individual homework (Ñâåòèêîâ Ä.)

Variant 5

 

1.Functions of demand and supply are: Qd = 1000-40 Ð; Qs = 300 + 30 Ð. Find the price and volume of equilibrium. What will happen with market equilibrium in the case if government sets fixed price – 6 dol.

 

2.Firm is going to produce new product X. Free money resources of the firm are 2800 doll. Firm is going to spend all these resources for 2 inputs: labour and capital. Inputs productivity and prices of resources are: ÌÐL = 800 – 80L; ÌÐÊ = 4800 - 240Ê; ÐL = 40$; Ðê = 120$. Find combination of inputs in the point of firm equilibrium.

 

3. The person credited with the notion of “falsification” as a means to increasing knowledge is

a. Thomas Kuhn

b. Karl Popper

c. Milton Friedman

d. Adam Smith

A change in demand could be the result of

a. A change in supply

b. A change in the price of the good

c. A change in incomes or preferences

d. All the above

Individual homework (Ðåêîâ Ä.)

Variant 6

1.Magnitudes of of supply and demand are done in the table.

Price (dol.) Demand (units) Supply (units)

Find:

1. Price elasticity of demand if price equals 8 and 10 dol. per unit.

2. Price and volume of equilibrium.

 

2.In short run firm produces 100 units. Average variable costs are 20 doll., total fixed costs are 4000 doll. Find total and average costs of the firm.

 

Normative issues in economics involve

a. A judgment about what should be

b. A subjective valuation or process of valuation

c. Decisions about what one should do

d. All the above

 

4. In addition to the condition of transitivity, consumer’s utility function must

a. Rank various market baskets or be indifferent between market baskets

b. Have enough money to buy all desired market baskets



c. Consider only goods with increasing marginal utility

d. All the above

Individual homework (Êîðøèêîâ Ì.)

Variant 7

1.Magnitudes of marginal utilities’ are done in the table.

Good MU Ð
À
B X
C

Find the marginal utility of food B in the point of consumer equilibrium.

 

2.Firm produces goods with the help of 3 workers. Average product of labour is 30 units per week. Wages of each worker is 60 doll. per week. Total fixed costs are 1000 doll. Labor is the only fixed input. Find average costs of the firm.


Date: 2015-12-17; view: 1067


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