ECS2601
Assignment 2 QUIZ Semester 1 2026
Detailed Solutions, References & Explanations
Unique number: 356646
Due Date: 7 April 2026
Terms of use
+27 81 278 3372 By making use of this document you agree to:
Use this document as a guide for learning, comparison and reference purpose,
Terms of use
Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
By making use of this document you agree to:
Use this document
Fully accept the consequences
solely as a guide forshould you plagiarise
learning, reference,or and
misuse this document.
comparison purposes,
Ensure originality of your own work, and fully accept the consequences should you plagiarise or misuse this document.
Comply with all relevant standards, guidelines, regulations, and legislation governing academic and written work.
Disclaimer
Great care has been taken in the preparation of this document; however, the contents are provided "as is" without any express or
implied representations or warranties. The author accepts no responsibility or liability for any actions taken based on the
information contained within this document. This document is intended solely for comparison, research, and reference purposes.
Reproduction, resale, or transmission of any part of this document, in any form or by any means, is strictly prohibited.
, ECS2601-26-S1 Welcome Message Assessment 2
QUIZ
Question 1
Not yet answered
Marked out of 2.00
Michael decides that he would pay as much as R3 200 for a new laptop computer. He buys the computer and realises
consumer surplus of R800. How much did Michael pay for his computer?
a. R2 400
b. R3 200
c. R4 000
d. R800
Clear my choice
Question 2
Not yet answered
Marked out of 2.00
The market supply curves and market demand curves for books are given as follows:
Supply curve: P = 0.000002Q Demand curve: P = 11 – 0.00002Q
The short-run marginal cost curve: MC = 0.1 + 0.0009Q
The equilibrium quantity of books is …
a. 1 book
b. 500 000 books
c. 1 000 books
d. 10 000 books
Clear my choice
, ECS2601-26-S1 Welcome Message Assessment 2
QUIZ
Question 3
Not yet answered
Marked out of 2.00
When the government provides a subsidy for a product, this will ...
a.
Encourage overproduction.
b.
Be a government cost.
c. All of the options are true.
d.
Increase Producer Surplus
Clear my choice
Question 4
Not yet answered
Marked out of 2.00
You operate a car-retailing business with a fixed amount of machinery (capital), but you have recently changed the number of
workers that you employ per hour. As you increased the number of employees hired per hour from three to five, your total
output increased by five cars to 15 cars per hour. What is the average product of labour at the new levels of labour?
a. AP = 4 cars per worker
b. AP = 5 cars per worker
c. AP = 3 cars per worker
d. We do not have enough information to answer this question.
Clear my choice
Assignment 2 QUIZ Semester 1 2026
Detailed Solutions, References & Explanations
Unique number: 356646
Due Date: 7 April 2026
Terms of use
+27 81 278 3372 By making use of this document you agree to:
Use this document as a guide for learning, comparison and reference purpose,
Terms of use
Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
By making use of this document you agree to:
Use this document
Fully accept the consequences
solely as a guide forshould you plagiarise
learning, reference,or and
misuse this document.
comparison purposes,
Ensure originality of your own work, and fully accept the consequences should you plagiarise or misuse this document.
Comply with all relevant standards, guidelines, regulations, and legislation governing academic and written work.
Disclaimer
Great care has been taken in the preparation of this document; however, the contents are provided "as is" without any express or
implied representations or warranties. The author accepts no responsibility or liability for any actions taken based on the
information contained within this document. This document is intended solely for comparison, research, and reference purposes.
Reproduction, resale, or transmission of any part of this document, in any form or by any means, is strictly prohibited.
, ECS2601-26-S1 Welcome Message Assessment 2
QUIZ
Question 1
Not yet answered
Marked out of 2.00
Michael decides that he would pay as much as R3 200 for a new laptop computer. He buys the computer and realises
consumer surplus of R800. How much did Michael pay for his computer?
a. R2 400
b. R3 200
c. R4 000
d. R800
Clear my choice
Question 2
Not yet answered
Marked out of 2.00
The market supply curves and market demand curves for books are given as follows:
Supply curve: P = 0.000002Q Demand curve: P = 11 – 0.00002Q
The short-run marginal cost curve: MC = 0.1 + 0.0009Q
The equilibrium quantity of books is …
a. 1 book
b. 500 000 books
c. 1 000 books
d. 10 000 books
Clear my choice
, ECS2601-26-S1 Welcome Message Assessment 2
QUIZ
Question 3
Not yet answered
Marked out of 2.00
When the government provides a subsidy for a product, this will ...
a.
Encourage overproduction.
b.
Be a government cost.
c. All of the options are true.
d.
Increase Producer Surplus
Clear my choice
Question 4
Not yet answered
Marked out of 2.00
You operate a car-retailing business with a fixed amount of machinery (capital), but you have recently changed the number of
workers that you employ per hour. As you increased the number of employees hired per hour from three to five, your total
output increased by five cars to 15 cars per hour. What is the average product of labour at the new levels of labour?
a. AP = 4 cars per worker
b. AP = 5 cars per worker
c. AP = 3 cars per worker
d. We do not have enough information to answer this question.
Clear my choice
