Study notes Applied Microeconomics ECS3708 (ECS3708) at University of South Africa (Unisa)

ECS3708 Assignment 03 semester 1 2024
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ECS3708 Assignment 03 semester 1 2024

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ECS3708 ASSESSMENT 2 SEMESTER 1 2024
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ECS3708 ASSESSMENT 2 SEMESTER 1 2024

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ECS3708 Assignment NUMBER 3 (254771) 2024 SEMESTER 1
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ECS3708 Assignment NUMBER 3 (254771) 2024 SEMESTER 1

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ECS3708 ASSEMMENT 2 SEMESTER 1 2024 Suppose that the consumer’s weekly utility function for consumption (C) and leisure (L) is explained by: U(C,L)=(C-200)(L-80) Assuming that there are 168 hours in a week available to allocate between work and leisure.
Exam (elaborations) • 19 pages • 2024

ECS3708 ASSEMMENT 2 SEMESTER 1 2024 Suppose that the consumer’s weekly utility function for consumption (C) and leisure (L) is explained by: U(C,L)=(C-200)(L-80) Assuming that there are 168 hours in a week available to allocate between work and leisure. If you earn R5 per hour and you also receive a social grant of R350 each week. Consider a firm that uses only labour to produce output Q. If the production function is given as: Q=3L^2+1/2 L-3/5 L^3 Determine the marginal product ...

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ECS3708 ASSEMMENT 2 SEMESTER 1 2024 Suppose that the consumer’s weekly utility function for consumption (C) and leisure (L) is explained by: U(C,L)=(C-200)(L-80) Assuming that there are 168 hours in a week available to allocate between work and leisure. If you earn R5 per hour and you also receive a social grant of R350 each week. Consider a firm that uses only labour to produce output Q. If the production function is given as: Q=3L^2+1/2 L-3/5 L^3 Determine the marginal product ...

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