Illustrate consumer and producer surpluses with demand and supply diagrams and explain how to maximize the total surplus (consumer surplus + producer surplus) at the equilibrium level.

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Illustrate consumer and producer surpluses with demand and supply
diagrams and explain how to maximize the total surplus (consumer
surplus + producer surplus) at the equilibrium level.

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Economists tend to disagree because: A. they tend to be difficult. B. they might be biased. C. they use different scales on their production possibility frontiers. D. one economist might calculate total production in Rands and the other economist might calculate total production in dollars. E. All of the above is correct
Year Cash inflow (R) 3 45 000 6 90 000 9 115 000 The applicable interest rate is 11,59% per year. The present value of the cash outflows is R95 000 The MIRR is [1] 21,25%. [2] 31,90%. [3] 38,06%. [4] 41,91%. [5] 14,72%
Monthly demand and supply schedule for t-shirts are given by: PRICE 8 7 6 5 4 3 2 1 QUANTITY DEMANDED 6 8 10 12 14 16 18 20 QUANTITY SUPPLIED 18 16 14 12 10 8 6 4 INCOME 100 150 200 250 300 350 400 450 a) What is the Price Elasticity of Demand for a price change from $7 to $5? Is it elastic or inelastic? (Use the Arc Elasticity Formula) b) What is the Price Elasticity of Supply for a price change from $7 to $5? Is it elastic or inelastic? (Use the Arc Elasticity Formula) c) Using Total Revenue, is demand elastic or inelastic for a price change from $4 to $3? d) What is the Income Elasticity of Demand for t-shirts when income decreases from $300 to $250? (Use the Arc Elasticity Formula)
Consumer buys 10 units of Good A when the price of Good B is $5. When the price of Good B rises to $6 (the price of Good A remaining unchanged) the consumer buys 14 units of Good A. Part A Using an appropriate formula, calculate this Consumer’s cross Elasticity of demand for Good A. Show your working.
f(x)=(e7x+4x-1)(ln|5x+2x2-3)/ 1/2
Study the information given below and answer the following questions: 4.2.1 Calculate the project’s Internal Rate of Return (answer expressed to two decimal places). (6) 4.2.2 Should the company consider investing in the project? Why? (1) INFORMATION Demat Limited is considering an investment in a project that costs R260 000 and should result in cash savings of R81 000 per year for five years. The company’s cost of capital is 15%.
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In a market system, which of the following is incorrect? A. Prices allocate resources equally among competing industries and sectors in the economy. B. Prices indicate relative scarcities and costs of production. C. Relative price changes are a determinant of firms’ profits and therefore encourage or discourage production. D. Prices are measures of consumers’ willingness to pay for goods and services. E. Prices signal to consumers how much they must sacrifice to obtain a commodity.