Team 1
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Team 2
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Teams
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Score
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heart
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gift
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lifesaver
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15
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A government has a target of keeping inflation between 2% and 3%. The diagram shows the rate of inflation over a four-year period.
D
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15
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what cost curve does this upward sloping curve represent?
Total Costs
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20
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What happens when we move from point A to point B
We gain 250 of good T and lose 250 of good R
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15
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What costs curve does this upward sloping curve represent?
Variable Costs
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15
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What does this horizontal line represent?
Fixed Costs
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15
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Assuming that there was no migration, which graph shows that there was an increase in population in year 1 and a decline in population in year 2
Graph Y
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15
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What is indicated by A, B and C
Economies of scale, Minimum efficient scale, diseconomies of scale
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15
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What is the extent is of disequilibrium in the market at a price of $2.50
Supply exceeds demand by 400,000 tonnes
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15
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What is indicated by point R
Minimum Efficient Scale
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15
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identify the tax amount, the amount the producers pay, the amount the consumers pay, the revenue before tax and the revenue after tax
200*6; 100*6; 100*6; 400*8, 300*6
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15
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Identify the graph
Backward bending supply curve of labour indicating that after a certain wage people prefer leisure to work
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banana
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banana
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baam
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15
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What is represented by the shaded area?
Dissavings
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15
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what does the movement from LAC1 to LAC2 indicate?
It indicates External Economies of Scale
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