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Fisherman Hake and equilibrium
Content
Exercise 10 Section 2
Market mechanism
Equilibrium
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Slide 1:
Tekstslide
Economie
Middelbare school
vwo
Leerjaar 3
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Content
Exercise 10 Section 2
Market mechanism
Equilibrium
Slide 1 - Tekstslide
Read Source 4 on page 48
Slide 2 - Tekstslide
10 A
Example of fixed costs of fisherman Tom Hake
timer
1:00
Slide 3 - Open vraag
10 B
Give an example of variable costs of Tom Hake
Slide 4 - Open vraag
10 C Calculate the total profit of Tom Hake before the fishing quota
Slide 5 - Open vraag
Answers
A. Interest, permit, insurance premium, wages
B. Diesel, bait
C.
Turnover 100,000 X € 5 = € 500,000
Variable costs 100,000 X € 1.50 = € 150,000
Fixed costs € 300,000
Total costs
€ 450,000 -
Total profit € 50,000
Slide 6 - Tekstslide
10 D
Does the fishing quota cause the supply curve to change or shift?
A
Change (movement along the curve)
B
Shift
Slide 7 - Quizvraag
Slide 8 - Tekstslide
10 E Calculate the total profit of Tom Hake after the fishing quota
Slide 9 - Open vraag
Answer
Turnover: 40,000 X € 8 = € 320,000
Variable costs 40,000 X € 1.25 = € 50,000
Fixed costs
€ 250,000 +
Total costs
€ 300,000 -
Total profit € 20,000
Slide 10 - Tekstslide
New fish species are supplied. Some consumers switch to these new species. What happens to the price of cod
Slide 11 - Open vraag
Answer
The demand curve for cod shifts to the left. The price of cod decreases
Slide 12 - Tekstslide
Read the intro on page 49
Which curve immediately shifts as a result of the police's action
A
The demand curve shifts to the left
B
The demand curve shifts to the right
C
The supply curve shifts to the left
D
The supply curve shifts to the right
Slide 13 - Quizvraag
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