Economics doubt P3 and P4, post it all in here!

[unique111]

idk what the hell i did, but i somehow got 200 and 600
for X:
sales:200*10=2000
costs:200*=1800
profit=200

For Y:
sales: 200*10=2000
costs:200*7=1400
profit=600

so it should be between 200 and 600

That's the only way i can proceed too.

 

[rupa]

Hey....
I have a doubt.....
How the "cost"is classified by an accountant and economist? I am really confused.....

 

[unique111]

Hey....
I have a doubt.....
How the "cost"is classified by an accountant and economist? I am really confused.....

Accountant does not take into account the interest forgone and the opportunity cost, whereas an economist does.
*funny the accountant does not take into account

 

[:: A^]

can someone explain trade liberalisation

 

[:: A^]

can someone explain trade liberalisation

NVM got it.. its removal of trade restrictions..

 

[unique111]

can someone explain trade liberalisation

Trade liberalisation involves removing barriers to trade between different countries and encouraging free trade.
Trade liberalisation involves:

• Reducing tariffs
• Reducing / eliminating quotas
• Reducing non-tariff barriers.

 

[unique111]

NVM got it.. its removal of trade restrictions..

Saw it just now.

 

[rupa]

Accountant does not take into account the interest forgone and the opportunity cost, whereas an economist does.
*funny the accountant does not take into account

ohhh thanks....

 

[:: A^]

Can someone tell me how to do this?
Answer is B. O/N/2012 - P33

 

[unique111]

Can someone tell me how to do this?
Answer is B. O/N/2012 - P33

It says utility from the fifth kg of bananas is twice that of 10th kg of apples. So, assuming the marginal utility from apples to be x, we know that of bana is 2x. Now, calculating mu/p of both the fruits, we have 0.8x for banana wheras 1x for apples. So, purchase of apples would increase and that of bananas will fall.

 

[SalmanPakRocks]

I am sorry guys, I was away for a few days. If you have queries, post it here. I'd try my best to answer.

 

[David Hussey]

Like you've done: multiplier(k)= 1/(.15+0.3+0.05)=2
Change in national income =50,000-40,000=10,000
So change in govt spending= change in national income/k=10000/2=5000
Therefore, govt. has to raise its spending to 15,000+5,000=20,000.
(*finally, i am able to solve someone's doubt.)

wow!

 

[David Hussey]

It says utility from the fifth kg of bananas is twice that of 10th kg of apples. So, assuming the marginal utility from apples to be x, we know that of bana is 2x. Now, calculating mu/p of both the fruits, we have 0.8x for banana wheras 1x for apples. So, purchase of apples would increase and that of bananas will fall.

and all of a sudden you start answering everyones doubts, very fishy

 

[David Hussey]

they are asking the price bro.. nt profit

then settha kadha only

 

[David Hussey]

Like you've done: multiplier(k)= 1/(.15+0.3+0.05)=2
Change in national income =50,000-40,000=10,000
So change in govt spending= change in national income/k=10000/2=5000
Therefore, govt. has to raise its spending to 15,000+5,000=20,000.
(*finally, i am able to solve someone's doubt.)

but how do you know this? is it in the book? :/
'govt spending= change in national income/k'

 

[dielectric constant]

everyone plzzzz can u cast your votes for economics P-42 in the thread " what can the gt for economics P-42????".....

 

[David Hussey]

seriously dude

 

[unique111]

Utility and national income are the only two thing i know. rest 95% of ppr is alien to me.

and all of a sudden you start answering everyones doubts, very fishy

 

[unique111]

but how do you know this? is it in the book? :/
'govt spending= change in national income/k'

Yeah. Remember this: change in govt. spending * k= change in national income.

 

[angel404]

Can someone help me with this question?


the answer is B