You are welcome to ask questions on Economics.
I will post the answer on this blog, for everyone to benefit from.
I shall try to answer the economics question and / or point to other resources but please bear in mind.
- The replies will be guidance and not for duplication. Your essays should always be your own work.
- My speciality is economics for British A Level standard. My university economics is rusty in parts, because generally I don’t use it in teaching A level economics.
- I can’t guarantee to always give answers it also depends on my time schedule.
- The aim is not to do people’s homework for them, but, help in the understanding of economic concepts.
- The answers will not necessarily be complete. I know several of my essays on this site could be improved.
- Please Write the Questions clearly and with proper spelling. Some questions I have not answered because they were not clear what was meant.
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I studied PPE at Lady Margaret Hall college, Oxford University, and currently work as an Economics A Level teacher. I have also examined several different economic units for Edexcel AS and A2.
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About The Author
This is about price-searching firms and two-part pricing to advise the company below.? this is about price-searching firms and two-part pricing to advise the company below. Please if you can use calculus or any other method, Thank you very much, this is a 10 points c question, Thank you please Draw diagram if is appropriate This is about price-searching firms and two-part pricing to advise the company below. A company has a bar and is trying to decide on the cover charge (if any) and price for each drink. It has done a modest regression study in which it asked customers to classify themselves as light drinkers or heavy drinkers and to indicate the number of drinks they would typically consume during the evening. The estimate from the regression study is that a change in the price equal to $1 per drink causes light drinkers to change their consumption on average by 0.5 drinks per night. However, a change in price of $1 causes heavy drinkers to change their consumption on average by 1.0 drink per night. For both groups a typical consumer will not consume anything once the price reaches $7 per drink. (They may instead go to another bar or not go to a bar at all.) Draw a demand curve for a typical light drinker and for a typical heavy drinker on the same diagram. Explain your diagram. If 300 people visit the bar on a typical evening, with 200 people being light drinkers and 100 people being heavy drinkers, draw an overall demand curve for all of the consumers combined. What is the slope and what is the intercept for this demand curve? Recall that, in the case of a straight line demand curve, the slope of the marginal revenue line for a company that does not practice price discrimination is double the slope of the market demand curve. If the marginal cost of making drinks is constant at $3 per drink, and if no cover charge is assessed, what is the best price to charge for drinks? How many drinks would be sold on a typical evening? What would your profits be? If you cut your price by $1 per drink AND assess the maximum possible cover charge without causing a typical light drinker to refuse to enter the bar, would your profits improve? How high would the cover charge be? Calculate both the cover charge and your total profits.
what is identity economics?
using the data and your economic knowledge assess the impact on the UK economy of a recovery in the EU as a whole
The appreciation of the Deutsche mark
A. is good for German exporters and bad for foreign importers of German goods.
B. is bad for German exporters and good for foreign importers of German goods.
C. benefits both German exporters and foreign importers of German goods.
D. hurts both German exporters and foreign importers of German goods.
I believe this one is D?
Which of the following statements about international trade is true?
A. International trade generally involves a gain for one country and a loss for the other.
B. The main reason countries trade is because all countries are not able to produce all of the goods they want or need.
C. Engaging in international trade allows a country to push its production possibilities frontier outward, increasing the quantity of all goods it can consume.
D. International trade necessarily leads to complete specialization in the production of a distinct set of goods.
I think it’s B?
Suppose France is an open economy and cannot influence the world price. If the world price is below the domestic equilibrium price, how would an increase in domestic supply affect the price and quantity demanded?
A. It would increase the price and the quantity demanded.
B. It would decrease the price and the quantity demanded.
C. It would decrease the volume of exports.
D. It would decrease the volume of imports
HELP!!!