Crowdly
Add to Chrome
ECS1501-25-Y Topics 12 -15
Looking for ECS1501-25-Y Topics 12 -15 test answers and solutions? Browse our comprehensive collection of verified answers for ECS1501-25-Y Topics 12 -15 at mymodules.dtls.unisa.ac.za.
Get instant access to accurate answers and detailed explanations for your course questions. Our community-driven platform helps students succeed!
If a firm has a total revenue of R100 000 per annum and economic cost of R80 000, it earns an economic profit of R20 000.
✅
❌
View this question
Look at the figure below and then indicate whether the statement is True (T) or False (F):
At a price of R50 and Q4 the firm makes an economic profit.
0%
❌
View this question
If total revenue equals R200 while 20 units are sold, the average revenue is R10 per unit.
✅
❌
View this question
Firms under perfect competition have some influence over the prices of their products.
❌
✅
View this question
Look at the figure below and then indicate whether the statement is True (T) or False (F):
The break-even point is at e.
0%
0%
View this question
Total economic profit is equal to the profit per unit of output multiplied by the quantity of units produced.
✅
❌
View this question
How is the MRP of labour calculated?
0%
0%
0%
0%
View this question
Which of the following is a non-wage determinant of labour supply?
0%
0%
0%
0%
View this question
What is the substitution effect in the labour-leisure choice?
❌
❌
❌
✅
View this question
In a competitive labour market, equilibrium is established when
0%
0%
0%
0%
View this question