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ECC1000 - Principles of microeconomics - S2 2025
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Imagine Harry, who earns $50 today and $50 in a year’s time and he can borrow and lend at 10%. What is the maximum amount that he can consume today? Enter only the number, with no additional words or symbols. Round to two decimal places.
Suppose Priya consumes 75% of her net income. How much will her wealth grow, in dollars, from the beginning of the year? Enter only the number, with no additional words or symbols.
What is her wealth at the end of the year, before adding her earnings and interest payments, assuming her assets depreciated by 15%? Enter only the number, with no additional words or symbols.
At the beginning of the year, before she purchased anything, how much did she have in savings? Enter only the number, with no additional words or symbols.
In the beginning of the year after she purchased the car and laptop, what is her wealth? Enter only the number, with no additional words or symbols.
At the beginning of the year Priya bought a laptop for $2000 and a car for $8000. By the end of the year she will have earned $24000 from her part-time job and $300 in interest payments from savings that yield 10% interest annually. Assume that she put none of her earnings from the part-time job in savings throughout the year.
At the end of the year, how much does she have in savings before she gets the interest payment? Enter only the number, with no additional words or symbols.
The figure shows two demand curves, D and D', for a soft drink. Based on this information, read the following statements and select the correct option(s):
Select the statement(s) that would contribute to economies of scale.
Enter only the number that answers this question, with no additional words or symbols; if we cannot answer this question with the information provided, enter NA. The deadweight loss at the profit-maximizing outcome is $.
Enter only the number that answers this question, with no additional words or symbols; if we cannot answer this question with the information provided, enter NA. The producer surplus in the Pareto-efficient outcome is $.