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.
- I will answer as a new post. Check home page of blog for new post. With question and answers
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.
If you find the information useful, you are welcome to buy me a coffee :)
About The Author
hello sir ijust want clear answer for economics is science or art . ya both ?
What is your view on the idea that the Chinese economy will overtake the US economy? Not only in PPP but in $ too?
What is “the default”, which BBC likes to talk about, but never explains?
Best regards
Tore
halo, I got something hard with my study, can you help me to send a solution of this task?
5. A large share of the brick supply in Natuna island comes from two producers: Bricko and Batako. Suppose the marginal cost of producing bricks is constant at Rp 1000 per brick, and the demand for bricks is described by the following schedule:
Price (Rp) Quantity
8,000 5,000
7,000 6,000
6,000 7,000
5,000 8,000
4,000 9,000
3,000 10,000
2,000 11,000
1,000 12,000
a. If there were many suppliers of bricks, what would be the price and quantity?
b. If there were only one supplier of bricks, what would be the price and quantity?
c. If Bricko and Batako form a cartel, what would be the price and quantity? If both split the market evenly, what would be Bricko’s production and profit? What would be Bricko’s profit if it increased its production by 1,000 while Batako stuck to the cartel agreement?
d. Use your answer to part (c) to explain why cartel agreements are often not successful.
Hi Sir i have several economic questions please help! these are the following:
1. what are the function of a production possibility frontier?
2. why is the demand curve negatively sloped?
3. why is the supply curve positively sloped?
thank you!
with the aid of a diagram,explain how price performs the function of eliminating surpluses and shortages