# 5 marks ii identify the equilibrium price and the

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[5 marks]ii)Identify the Equilibrium price and the quantity of tomatoes[2 marks]B.Discuss TWO (2) factors that can cause a left ward shift of the demand curve and ONE(1) factor that may cause a rightward shift of the supply curve.[9 marks]Submitted by:CCCJ-EAD/submissiontemplate/V1.12019 January7
C.The tomatoes that RADA has purchased will be distributed to outlets in other parishes.Could we assume that there is a national shortage of tomato? State your opinion on thematter.[4 marks][Total 20marks][Question 2][Unit -4][Objective-1, 4]A.Write the formula for each of the following costsi.Total costii.Marginal costiii.Average fixed costiv.Average total costv.Total fixed costvi.Variable cost[3 marks ]Output levelVariable Cost\$Total Cost\$MarginalCost\$AverageFixed Cost\$Average TotalCost\$0086---1861728629618231302164136222B.Copy and complete the table to show FOUR cost for each level of output[11 marks]C.With the aid of a diagram, explain the relationship between â€˜marginal costâ€™ and â€˜averagetotal costâ€™[6 marks][Total 20 marks]Submitted by:CCCJ-EAD/submissiontemplate/V1.12019 January8
[Question 3][Unit- 5][Objective-1, 2, 3, 4]A.Define the term market structure[2 marks]B.LISTTWO types of market structure that operates in your country and outline thekey characteristics ofany ONE.[4 marks]C.State TWO assumptions on which monopolistic competition is based and give ONEexample of a monopolistic competition industry in Jamaica[6 marks]D.Compare monopoly and perfect competition[8 marks][Total 20 marks]Submitted by:CCCJ-EAD/submissiontemplate/V1.12019 January9
COUNCIL OF COMMUNITY COLLEGES OF JAMAICA[PROGRAMME] DEGREE EXAMINATIONSSEMESTER 2 â€“ 2021 MAYPROGRAMME:COURSE NAME:CODE:YEAR GROUP:DATE:TIME:DURATION:2 HOURSEXAMINATION TYPE:FINALSolutionsSection A1D11A212A12A223A13B234C14D245D15C256D16B267B17A278C18A289C19B2910D20C30Submitted by:CCCJ-EAD/submissiontemplate/V1.12019 January10
Section B[Question 1]Unit- 3[Objective-1, 2, 6]A.Quantity Supplied (000 lb.)MARKETSUPPLY(000 lb.)PRICE OFTOMATO\$MARKETDEMAND(000 lb.)FARMER QFARMER RFARMER Y30500250150125600404001003604041050300130100703006020018512510050070100220180200525[1 mark each, total 5 marks]

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