CPA Economics – November 2019 Past Paper & Answers
Unit: Economics
24 QuestionsQuestions
Download CPA Economics November 2019 past paper with detailed answers and marking scheme. This paper is based on KASNEB examination standards and is ideal for revision and exam preparation.
Access the full paper online, download the PDF, or study offline. Each question includes step-by-step solutions to help you understand key concepts in Economics.
The following equations are given:
Q = -10 + 6P ................... equation (1)
Q = 20 - 4P........................equation (ii)
Required:
(i) Giving reasons, identify the demand function and the supply function.
(ii) Determine the equilibrium price and quantity.
l. At a unit price of Sh.20 of product "R", 600 units were sold.
2. At an increased price of Sh.70, the sales of product "R" decreased by 500 units.
3. The
relationship between the price of product "R" and the quantity sold
of product "R" is linear.
4. The
total cost (TC) of product "R" is given by the function:
TC = O.9q2 + 30q + 1,000
Where q is the quantity of product "R" produced and sold.
Required:
(i) The revenue function of product "R".
(ii) The profit earned at equilibrium.
(iii)The equilibrium price.
With reference to the above statement, justify six positive economic effects of a prolonged fall in the value of money in an economy.
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