Economics and Business

at Maastricht University

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++++++ Ask your EB question here and an experienced Success Formula tutor will answer it as soon as possible ++++++ PLEASE ask your questions as a SEPARATE POST and NOT as a COMMENT here! Any problems or questions while studying/preparing for EB? Don’t worry, we got you covered! Just post any of your questions in the EB course on Studydrive and our professional tutors will help you!!! We wish you lots of success! Your Success Formula Team
why is it c instead of b ?
How does one calculate this ?
Can someone maybe explain this to me ?
yes you have to use the formula for price elasticity of demand: which is the derivative of the demand curve times (price/ quantity). so for this one it is -4*(2/15). you will get a negative answer but you can take the absolute value so let fall the minus. I hope this helps you.
Can someone please explain this question?
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But as I explained when you get a negative number for the demand curve you have to consider that the demand is equal to zero. Just think about it if you are selling cookies, one guy tells you he wants to buy 4 cookies , and another guy says he wants to buy -2 cookies. You are still gonna sell 4 cookies to the first guy and none to the second guy . so the demand will be 4.
Thank you very much :)
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This is amazing !!!
how did you get to this?
Look at the values 20 and 5, 20W=5C then you reduce it. 4W=1C (divide by 5)
Why is it 40 and not 120. I think I followed exactly the same steps as in the course but I keep getting 120 as an answer
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Thanks a lot ! It was indeed the case
how do you do this?
has anyone solved question 16 first sit 18 and can help by uploading / explaining it? thanks in advance :)
Hey, did anyone of you calculated the whole past exam for the resit (or some parts of it) and would be so amazing to share those calculations. Would help a lot! ​
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LOVE UUUUU
Happy that it helps haha :)
How do you all prepare the resit?
I am doing my own summary
And also the calculation from the tutorial, good luck :)
I don’t know how to study for the resit... I felt prepared for the first sit already but failed...
Maybe you can do learning cards and repeat all the stuff and repeat the calculations as well, than you're more prepared for the resit than for the first sit, that's what I'm going to do
how do you all study for the resit? and do they have to give us additional points as they did in the first sit?
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oh okay thank you! Ill try that and which summary did you use?
for homework I used Lina and Jana and then I used Jana's full summary and also looked at Angie's and do not forget to look at the lecture too (I think Lina uploaded it but also others)
How to do this? I get 2 bananas = 1 apple but there is no budget constraint formula to plug it into
why is the answer not d?
Denmark will not trade with other countries since the market price in Denmark resulting from setting domestic demand and supply equal gives p=4, which is lower than the world market price.
but as you said market price in Denmark is lower than world market price. Wouldn´t that mean denmark will export? Because then gains of trade would be 12?!
How do you get to 600?
:)
Why is it B?
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why is it 3.5? I was wondering as well
Compare the quantity as well. Get the quantity of supply and demand by plugging in the foreign P to the domestic demand and supply function Q demand = 12 S demand = 5 Excess demand Then plug the numbers into the formula Formula being: = = Diff between import and export * Diff between price of foreign and domestic * (1/2) (because its a triangle) = (12 - 5) * (7-6) * (1/2) = 3.5 hope this helps
Does anyone know why it is D instead of B?
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can someone please confirm if it's b or d, cause I've been stressing out because of this question ?
It is D, because the outcome of equilibrium price in the entire country, which is 62.5, gives a negative demand in the south (1000-20*62.50). Hence you are best off to use the demand function of the northern part, setting it equal to the supply function of the entire country, which gives 4000-20P=40P -> P=66.67. Check task 4 of the tutorials, there was a similar exercise, pretty sure it's on studydrive somewhere.
how do you solve this question?
how do you come to d pls??
This might help you! Just calculate the number of firm with the first demand function (before the shock) and then after the shock with the new demand function.
How do I find the ATC in this case?
Which specific variables in this question are used to determine the GDP?
GDP = Consumption + Investment + Government spending + (Export-Import) gives 850+630+900+(260-300) = 2340
Does someone get this???
Set current supply and demand equal gives w=5, before the economy shock there is a labor demand of 100-(14*5)=30. Wage is downwardly rigid so has to stay 5 after the shock, after the shock there is a decrease in level of employment by 5, that means the new formula for labor demand has to have outcome 25 with w=5. Answer b is the only one that suffices.
Hoy do you compute this ? With the opportunity cost ?
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Do you have to take MU(A)/P(A)=MU(B)/P(B)
I´m pretty sure there is no correct solution in this task. None of these seems possible to me...
Does anyone have the calculations for question 30 about taxes?
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How come you got -20 in the last step, the DWL calculation? And also why is 80 before 60 in the graph? Cheers :)
I said in the first message above that I definitely made a mistake somewhere but I somehow came up with the right answer. If you know where I fucked up, please let us know ! Cheers
Anyone who understand this question? Thanks! :D Question 32 from the 2017 Resit exam.
How do you compute this?
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still don't get it?
I can't make it more detailed... I hope you get it
why C? does anyone know?
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Here you go
I love the note in green, thank you mate!
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does anyone know the answer for question 9?
It's D
How do you calculate this?
Does someone have the calculations from this question? Thanks!
Here you go !
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Does anyone have the calculations for Q7 of the esit 2017 exam? Thanks! Good luck y'all!X
I hope this helps
Can someone explain me how I calculate the Elasticity in Q9 from last years resit? thanks :)
300 x 400 : 2 is 60.000 not 600 the unit doesn't matter?
Why is it not 62.5? That's what I get when I add the two functions and put them equal? Anyone who can explain this please? X Much appreciated
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Thank you so much ! I've been struggling with those for ages :,)
Why is it A) here ? I thought that when there are rigid wages, W stays constant
How do you find a price of 15?
Revenue = Price x Quantity So : 90Q-Q^2 /3 Find MR by taking the derivative which is = 90 - 2Q/3 Set it equal to 0 90-2Q/3 = 0 Q= 45 Plug Q=45 in the original price equation of P=90-Q/3 p= 90-45/3 = 15
I am not sure but: Revenue = Q * P Revenue = Q(P) * P Revenue = (90-3P) * P = 90P - 3P^2 MR = Revnue' = 90P - 3P^2 = 90 - 6P MR <= P 90 - 6p = 0 90 = 6p p =15
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thanks Nina so useful !!
No problem cuties !!
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Put it on play, enable audio, randomize it, go to sleep, wake up knowing most of this stuff
omg good idea im gonna do that
you can even control the speed of the audio in settings, works very well :)
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How do I determine ATC?
TC / q
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thank you!
How do I calculate gains from trade? Do I need to calculate the triangle or just the difference of the quantities? they were various exam questions about it which did it in different ways.