Industry 4.0 is driven by advanced automation technologies such as robots, artificial intelligence, Internet of Things, cloud computing, and 3D printing. Discuss on how the Industry 4.0 is able to sustain the economic activities for services sector during the period of the movement of control order (MCO) imposed by the Malaysian government resulted from the Covid-19 outbreak?

The production cost of x units of a product during a month is x ^ 2 dollars. If you want to produce at least 80 units over the next three months, formulate and solve a nonlinear programming model to determine the most economical way to produce.

To the extent that all market participants have better information, economic efficiency is improved and prices are closer to costs for the products and services bought by consumers and for the supplies and equipment bought by firms. Thus innovations that improve information to patients and/or providers, such as by making price and quality information easily available, have an economic value to consumers. Use of the Internet benefits consumers in a variety of ways. What are the different ways the Internet can increase value to consumers and to health care providers and health plans? The Internet/e-commerce can increase efficiency for both providers and health plans in several ways. What are the likely effects of the Internet on health care competition?

1.

The inverse demand curve for sprokets is P = 4,000 - 2(q₁ + q₂), where the market output Q is the sum of each firm's output of sprokets, q₁ + q₂ and P is the market price. Spokets can be produced at a constant MC = ATC = 1,000 and all sprokets produced are identical.

Suppose there is a duopoly in the production of sprokets and the firms engage in Stackelberg competition. Firm 1 is the Stackelberg leader. What is Firm 1's profit level?

2.

The inverse demand curve for sprokets is P = 4,000 - 2(q₁ + q₂), where the market output Q is the sum of each firm's output of sprokets, q₁ + q₂ and P is the market price. Spokets can be produced at a constant MC = ATC = 1,000 and all sprokets produced are identical.

Suppose there is a duopoly in the production of sprokets and the firms engage in Stackelberg competition. Firm 1 is the Stackelberg leader. What is Firm 2's profit level?

3.

The inverse demand curve for sprokets is P = 4,000 - 2(q₁ + q₂), where the market output Q is the sum of each firm's output of sprokets, q₁ + q₂ and P is the market price. Spokets can be produced at a constant MC = ATC = 1,000 and all sprokets produced are identical.

Suppose there is a duopoly in the production of sprokets and the firms engage in Cournot competition. What is the market output level, Q = ?

4.

The inverse demand curve for sprokets is P = 4,000 - 2(q₁ + q₂), where the market output Q is the sum of each firm's output of sprokets, q₁ + q₂ and P is the market price. Spokets can be produced at a constant MC = ATC = 1,000 and all sprokets produced are identical.

Suppose there is a duopoly in the production of sprokets and the firms engage in Cournot competition. What is the market price, P = ?

5.

The inverse demand curve for sprokets is P = 4,000 - 2Q, where Q is the quantity of sprokets and P is the market price. Spokets can be produced at a constant MC = ATC = 1,000 and all sprokets produced are identical.

Suppose there is a duopoly in the production of sprokets and the firms engage in Bertrand competition. What is the market output level, Q = ?

Discuss two reasons for anti-immigrant sentiment among some Americans about the Trump administration family separation policy.

The COVID 19 pandemic and the associated lockdown has led to an increase in aggregate prices of food in Ghana. Using your understanding of (a) the fundamental causes of inflation, (b) the aggregate demand and aggregate supply curve (LR and SR) shifts, provide your sound reasoning for why this aggregate food price increases could have happened in this season.

[30 Marks]

2.

Using the data on the Economy of Ghana provided below, answer the following questions:

Price index of Agriculture (2015=100) Constant (2015) Prices ( Billion

Ghana Cedis)

2016 2017 2018 2019 2016 2017 2018 2019

1. TOTAL AGRICULTURE 130.6 174.4 222.4 317.8 2.89 2.99 3.12 3.06

1.1 Agriculture and

Livestock 133.7 174.0 211.8 317.3 1.99 2.11 2.22 2.13

1.2 Cocoa Production and

Marketing 140.4 209.1 305.6 391.9 0.47 0.44 0.45 0.47

1.3 Forestry and Logging 108.1 144.2 174.1 244.9 0.32 0.33 0.37 0.35

1.4 Fishing 98.2 134.6 199.1 221.7 0.11 0.11 0.11 0.12

a. Compute the real growth rate in total agriculture for 2017, 2018 and 2019. Interpret your results. As an advisor to the Minister of Agriculture, what economic advice will you give him?

b. In real terms, the forestry and logging subsector grew faster than that of the fishing subsector in 2017. Do you agree with this statement? Why?

c. Compute the inflation for total agriculture for each period from 2016 to 2019.

Interpret your observations carefully.

[20 Marks]

3.

a. You have been given the following data:

Net non-business interest income 24

Government purchases 670

Corporate retained earnings 73

Gross private investment 530

Depreciation 10

Net exports -240

Personal consumption 2800

Transfer payments from government 54

Foreign factor income earned domestically 320

Personal taxes 84

Social security taxes 67

Income from foreign domestic factor sources 300

Indirect taxes 45

On the basis of these data calculate:

(i) GDP

(ii) GNP

(iii) NNP

(iv) NI

(v) PI

(vi) Disposable personal income

[20 Marks]

Show working with explanations.

b. Differentiate clearly between currency revaluation and currency appreciation.

[5 Marks]

c. Discuss five (5) of the omissions from GDP that over/undervalue Ghana’s GDP. What do these mean for Ghana’s economy? [5 Marks]

4.

a. The government of Ghana has gradually outlined measures to ease an opening of the economy. The government is eager to see the economy bounce back. Suppose the government approaches you as a consultant and indicates that they will like to have a very low unemployment, zero inflation and very high GDP growth. How would you advice the government? Be concise in your advice. [10 Marks]

b. Business cycles are pervasive in all macroeconomic variables. Does the relative durations of expansions and recessions help explain the fact that long-term economic growth has been positive?

Data for an economy.

• Population:    22.5 million
• Population under the age of 16 years: 7.5 million
• Discouraged workers: 250,000.
• Retired people: 1 million
• Structurally unemployed people: 220,000
• Frictionally unemployed people: 220,000
• Cyclically unemployed people: 2.2 million

Using only these statistics above, answer the following four parts. Show full calculations.

i. What is the labour force participation rate in economy X?

ii. What is the current total unemployment rate in economy X?

iii. What is the percentage of the adult labour force that is employed?

iv. In percentage terms, how much new unemployment occurred in economy X after it went into a recession?

Assume that using the midpoint method, we calculated the price elasticity of demand for good A is 2. Hence which of the following is true if the price of good A increases by 0.1 percent?

a.

The quantity demanded of good A declines by 20 percent.

b.

The quantity demanded of good A declines from 200 to 100.

c.

The quantity demanded of good A declines by 0.05 percent.

d.

The quantity demanded of good A declines by 0.2 percent.

Which of the following best describes inelastic demand?

Suppose two goods A and B are substitutes. If the price of good B increases, which of the following is correct?

If a tax has been raised by 20 percent, how will the deadweight loss change?

If the price elasticity of demand for a good is 2, then a 6 percent increase in price results in a

A tax imposed on the sellers of good X will have which of the following effects.

hich of the following would shift the demand curve for gasoline to the right?

Which of the following will result in the increase of equilibrium quantity for sure?

John chooses to work 5 hours instead of going to a party. His hourly wage is $14. Find John's opportunity cost of working.

Assume that using the midpoint method, we calculated the price elasticity of demand for good A is 0.75. Hence which of the following is true if the quantity demanded of good A decreases by 10 percent?

Assume that production possibilities frontier is bowed outward, and further assume that two goods are good A and good B, then how does the opportunity cost of producing more of good A change?

Minimum wage would be one example of

When the price of good A is $50, the quantity demanded of good A is 600 units. When the price of good A rises to $70, the quantity demanded of good A falls to 400 units. Using the midpoint method, the price elasticity of demand for good A is

A movement downward and to the right along a demand curve is called a(n)

3. A yoga classroom faces two demand curves. The demand by local residents is Q=100-0.5P, and the demand by nonlocal residents is Q=200-0.5P. The marginal cost of serving either local or nonlocal residents is constant at $100. If the yoga classroom practices third-degree price discrimination, it will charge local and nonlocal residents a price of _____ and _____, respectively.

a. $150; $250

b. $100; $200

c. $250; $350

d. $200; $300.

How many people will they serve if they charge the same for both?

How much profit increase do they have when they switch from uniform pricing distribution?

Design a company that operates in pure monopoly conditions. When the government regulates the market within the framework of deregulation policies, whether four firms have joined the market, come together and show the monopolization of the firms operating in the same field, and show the market equilibrium price of the firms on the chart in the long run. Describe the process of change in the market.

a) Discuss what actions the Government and the RBA should take given the information in the table.

b) What could go wrong if the above-discussed policies are implemented?

Answers:

Just need help on figuring out how these answers were found, thanks.

Assume that notebook paper is sold in a perfectly competitive industry. The industry inverse short-run supply curve (or marginal cost curve) is P = MC = 4Q, where Q is measured in millions of reams per year. The inverse demand for notebook paper is P = 60 – 6Q. Suppose that, in their production process, paper manufacturers have been dumping waste in the nearby streams. The external marginal cost is estimated to be $1 for each ream produced. Calculate the socially optimal level of output and price for the paper industry.

Question 7 options: Socially optimal output = 5.9 million reams of paper and socially optimal price = 16.6 per ream Socially optimal output = 3.9 million reams of paper and socially optimal price = 16.6 per ream Socially optimal output = 3.9 million reams of paper and socially optimal price = 24.6 per ream Socially optimal output = 5.9 million reams of paper and socially optimal price = 24.6 per ream Question 8 (1 point) Which of the following industries is an oligopoly market?

Question 8 options: Oranges Laptops Shirts Electricity Question 9 (1 point) Suppose that the inverse market demand for oranges is given by P = $10 – 0.05Q, where P is the price of oranges and Q is quantity of oranges. Suppose that Freshfruits and Purefruits are the only two producers of oranges and they are Bertrand competitors. Both Freshfruits and Purefruits can grow oranges at a constant marginal cost of $1 per packet. Each of them sells 90 packets of oranges at a price of $1. Now suppose Freshfruits develops a new technology so that their marginal cost fall to $0.90. Which of the statement is correct?

Question 9 options: Purefruits sell 180 packets of oranges by pricing their product so as to undercut Freshfruits by the least amount possible. Freshfruits output falls to zero. Freshfruits sell 180 packets of oranges by pricing their product so as to undercut Purefruits by the least amount possible. Purefruits output still sell 90 packets of oranges. Freshfruits sell 180 packets of oranges by pricing their product so as to undercut Purefruits by the least amount possible. Purefruits output falls to zero. Both the producers still sell 90 packets of oranges.

Consider the following situation:

Two animals are competing for territory. Each animal chooses to be either Aggressive or Passive in this competition, and has the following preferences over the outcomes:

• Each animal would prefer to be Aggressive if the other is Passive: this way they win the competition and gain territory.
• Each animal would prefer to be Passive if the other is Aggressive: this way they lose territory, but they avoid a fight which would leave them injured.
• Regardless of whether an animal is Passive or Aggressive, they would prefer that their rival is Passive: dealing with an Aggressive rival costs energy and time that they could use for finding food.

Refer back to the situation in Question 4.

When modeled using game theory, how would Animal 1's preferences rank the four possible strategy profiles?

Group of answer choices

Most Preferred

      [ Choose ]            Animal 1 is Passive, Animal 2 is Aggressive            Animal 1 is Aggressive, Animal 2 is Aggressive            Animal 1 is Aggressive, Animal 2 is Passive.            Animal 1 is Passive, Animal 2 is Passive.      

2nd Most Preferred

      [ Choose ]            Animal 1 is Passive, Animal 2 is Aggressive            Animal 1 is Aggressive, Animal 2 is Aggressive            Animal 1 is Aggressive, Animal 2 is Passive.            Animal 1 is Passive, Animal 2 is Passive.      

3rd Most Preferred

      [ Choose ]            Animal 1 is Passive, Animal 2 is Aggressive            Animal 1 is Aggressive, Animal 2 is Aggressive            Animal 1 is Aggressive, Animal 2 is Passive.            Animal 1 is Passive, Animal 2 is Passive.      

Least Preferred

      [ Choose ]            Animal 1 is Passive, Animal 2 is Aggressive            Animal 1 is Aggressive, Animal 2 is Aggressive            Animal 1 is Aggressive, Animal 2 is Passive.            Animal 1 is Passive, Animal 2 is Passive.      

Refer back to the situation in Question 4.

When modeled using game theory, how would Animal 2's preferences rank the four possible strategy profiles?

Group of answer choices

Most Preferred

      [ Choose ]            (P, A)            (A, P)            (P, P)            (A, A)      

2nd Most Preferred

      [ Choose ]            (P, A)            (A, P)            (P, P)            (A, A)      

3rd Most Preferred

      [ Choose ]            (P, A)            (A, P)            (P, P)            (A, A)      

Least Preferred

      [ Choose ]            (P, A)            (A, P)            (P, P)            (A, A)      

suggestions to improve the Balance of Payment of Country?