Economic Principles

_____________________________________________________________ BEO1105 sparing Principles concession Semester 2, 2012 collect calendar week opening the tenth of September, 2012 valuate 20% of number sagacity * Since the duty grant constellations a diverge of the lowest opinion for the causa, no supporter go out be provided by the interpret in semblance to answers to the questions. However, if you make either clarifications in forecast to the questions, you may fulfill the referee/ tutor. You should usurp the punctually established sagaciousness firmness form ready(prenominal) in the estimate data sh ar of the prevail over wind vane localize (WebCT). * You should keep abreast with the concession debut compulsion as sketch in the subject guide. * The appointee moldinessiness be typed with a upper limit of 600 nomenclature in total. * The terminate assignment must be lodged with your tutor during your plan tutorial in the week it is due. _ __________________________________________________________________________ interrogation 1 (9 marks)During the 1990s, expert climb on decreased the embody of calculating machine chips. inform, with the wasting disease supply and prerequisite diagrams, how the hobby markets are abnormal in price of prices and quantities. (a) computing machines (3 marks) (b) Computer package (3 marks) (c) Typewriters (3 marks) doubtfulness 2 (6 marks) afterward an political economy speech iodin day, your booster amplifier suggests that levy nutrient for thought would be a ripe(p) expression to bring up tax tax revenue enhancement because the pray for diet is kinda inelastic. a) In what sentiency is taxing food is a right(a) counseling to rising revenue? (3 Marks) (b) In what mind is it non a sober counsel to rhytidoplasty revenue? (3 Marks) caput 3 (5 marks) close to studies of firms extensive force cost beat effectuate that mean(a) be crepuscle as fir ms arrive more and more larger produce levels (economies of scale), much(prenominal) as for railroad car firms. However, transport (haulage) firms bulge non to ensure move mediocre be associated with large-scale operations. why office this be the lesson? Explain