This economics question tests your understanding of economic models and analysis. The step-by-step answer below applies the relevant framework and explains the reasoning.
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Question 1: Part of a company's authorized capital that is offered to the public for subscription is known as issued capital. C. issued capital Question 2: A market structure in which there is only one buyer and many sellers is called a monopsony. B. monopsony Question 3: Step 1: Identify the Total Costs (TC) and Total Variable Costs (TVC) at an output of 20 kg from Figure 1. From the graph, at an output of 20 kg: TC = 6000 FCFA TVC = 3000 FCFA Step 2: Calculate the Average Total Cost (ATC). ATC = TCOutput = 6000 FCFA20 kg = 300 FCFA/kg The calculated Average Total Cost of 300 FCFA/kg is not among the given options. Step 3: Calculate the Average Variable Cost (AVC) and Average Fixed Cost (AFC). AVC = TVCOutput = 3000 FCFA20 kg = 150 FCFA/kg First, calculate Fixed Costs (FC): FC = TC - TVC = 6000 FCFA - 3000 FCFA = 3000 FCFA Then, calculate Average Fixed Cost (AFC): AFC = FCOutput = 3000 FCFA20 kg = 150 FCFA/kg Option D, 150 FCFA, matches both the Average Variable Cost and the Average Fixed Cost. Given that the calculated Average Total Cost is not an option, it is likely that the question intended to ask for Average Variable Cost or Average Fixed Cost. D. 150 FCFA Question 4: The best location factor for an industry producing bulky and heavy products is proximity to the source of raw material, as this minimizes transportation costs for heavy inputs. B. raw material Question 5: The problem of the barter system which is solved by the standard of deferred payment is the difficulty of making future payments, as money provides a common measure of value