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The total cost equation in the production of bacon at some hypothetical factory is
C = 1000 + 100Q – 15Q2 + Q3
Where C = Cost measured in shillings, while Q = quantity measured in kilograms.
Compute the total and average costs at output level of 10 and 11 kilograms.
Date posted:
February 6, 2019
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What happens to a floating charge when it crystallizes?
Date posted:
February 6, 2019
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Briefly explain and illustrate quasi-rent.
Date posted:
February 6, 2019
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Using well labelled diagrams, illustrate cases when the total factor payments may equal to economic rent,
or transfer earnings or shared between the two.
Date posted:
February 6, 2019
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Explain what is meant by the terms transfer earnings and economic rent of a factor of production
Date posted:
February 6, 2019
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A monopoly firm is faced with the following demand function
P = 13 – 0.5Q
The Marginal Cost function for the firm is given by 3 + 4Q and the total fixed cost is 4.
Determine the output level at the break-even point.
Date posted:
February 6, 2019
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State four factors which determine the farming systems adopted by a farmer
Date posted:
February 6, 2019
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A monopoly firm is faced with the following demand function
P = 13 – 0.5Q
The Marginal Cost function for the firm is given by 3 + 4Q and the total fixed cost is 4.
Determine the level of super-normal profit if any.
Date posted:
February 6, 2019
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Illustrate and explain the short-run supply curve of a firm in perfect competition
Date posted:
February 6, 2019
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Explain why a firm in perfect competition may continue in the production of goods which it
can only sell at a loss and why it cannot continue doing this indefinitely
Date posted:
February 6, 2019
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Discuss the rules relating to appointment and vacation of office of directors .
Date posted:
February 6, 2019
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Write explanatory notes on the various types of internal and external economies of scale.
Date posted:
February 6, 2019
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a) James and Shem proposed to form a company by the name 'Micromine Limited'. On behalf of the proposed company, Shem entered into contracts to purchase office furniture and stationery.
Required:
i) What are the company's rights and liabilities under such contracts after incorporation?
ii) What provisions for the protection of Shem are found in such contracts?
Date posted:
February 6, 2019
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Using a well-illustrated diagram, show that a monopolist can make losses in the short-run even
when MC = MR
Date posted:
February 6, 2019
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Using a well illustrated diagram, explain why prices are "sticky" downwards under an
oligopolistic market structure
Date posted:
February 6, 2019
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Outline the documents that are normally kept at the registered office of a company.
Date posted:
February 6, 2019
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Distinguish between a corporation sole and a corporation aggregate.
Date posted:
February 6, 2019
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Explain the meaning of mobility of factors of production. To what extent are factors of
production mobile
Date posted:
February 6, 2019
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Highlight the circumstances under which a person may cease to be a member of a
company.
Date posted:
February 6, 2019
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If Mrs. Breader views butter and margarine as perfect substitutes, draw a set of indifference
curves that describe her preference for these two commodities
Date posted:
February 6, 2019
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Explain any four uses of indifference curve analysis
Date posted:
February 6, 2019
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Briefly explain two exceptions to the definition of an indifference curve.
Date posted:
February 6, 2019
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Explain the main characteristics of indifference curves
Date posted:
February 6, 2019
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Illustrate and explain Consumer equilibrium under the ordinalist approach
Date posted:
February 6, 2019
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Birds Limited has three directors: Peacock, Sparrow and Vulture. Explain the legal implication of each of the following situations:
a) Vulture's son has recently come of age and vulture wishes to appoint him a director of
the company.
b) The company is considering the purchase of a substantial quantity of goods from fly ltd., in which sparrow has a large shareholding through he is not a director peacock and vulture are unaware of sparrow's interest in fly ltd.
c) Because of adverse publicity about peacock's private life, vulture and sparrow wish to
remove him as a director, since he refuses to resign.
d) In view of the adverse publicity, vulture and sparrow decide to exclude peacock from participation in the company's affairs.
e) The directors are advised by wise & co., the company's auditors, that there is no possibility of the company trading at a profit in the foreseeable future and no reasonable prospect of its paying its debts
Date posted:
February 6, 2019
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Illustrate and explain Consumer equilibrium under the cardinalist approach
Date posted:
February 6, 2019
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Define marginal utility and clearly explain the oxiom of diminishing marginal utility.
Date posted:
February 6, 2019
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To what extent does the doctrine of constructive notice operate negatively?
Date posted:
February 6, 2019
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What type of goods are X, Y, Z & W and why?
Date posted:
February 6, 2019
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State the legal consequences of a winding up order made against a company.
Date posted:
February 6, 2019