Reference no: EM132930688

Can anybody please help me tackle the following questions

1. Let the buyer and seller for the bilateral monopoly discussed in Sec 8.5 have the production functions q1 = 270q2 - 2 and x = 0.25 respectively. Assume that the price of q1 is 3 and the price of x is 6. (a) Determine the values of q2, p2 and the profits of the buyer and seller for the monopoly, monopsony, and quasi-competitive solutions. (b) Determine the bargaining limits for p2 under the assumption that the buyer can do no worse than the monopoly solution and the seller can do no worse than the monopsony solution.

2. Distinguish between the 'multiplier ' and the 'accelerator' as used in national income statistics

3. Explain four factors that could limit the application of the multiplier in developing countries

4. Explain five factors that determine the macroeconomies level of consumption in an economy

5. Discuss ten limitations of using national income statistics to compare the standards of living between different countries

6. Outline five problems associated with the expenditure approach of measuring the national income of a country

7. Explain four factors that limit the effectiveness of the multiplier in developing countries

8. Justify the need to estimate the national income in a country

9. Outline six challenges encounted by economic planners when estimating the national income in a developing country

10. Describe four policy measures that developing countries could adopt to reduce regional imbalances