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Questions:
Q1 What factors give rise to monopoly? (Hint: Patents, High fixed cost)
Q2 Write short notes on the following, keeping in view the monopoly market structure (i) Allocative efficiency (ii) Productive efficiency.
Suppose that the level of frictional unemployment is 2 percent, the level of structural unemployment is 3 percent, and the level of cyclical unemployment is 3 percent. Using Okun's Law, we can determine that real GDP in this economy is
An ethical dilemma refers to a situation where you must: treat someone unfairly. choose between equally unsatisfactory alternatives. choose between a correct and an incorrect option. balance the concerns of profit and legality.
firstly consider a simple keynesian income-spending model of an economy described by the following equationsc 210
identify production level to maximize profitsexplain how to balance fixed and variable costsapply economic cost
Write down the household's utility maximization problem subject to the present value budget constraint. Show that it is optimal for the household to choose c and c′ such that
a. What should the firm do in the short run? Why? b. What should the firm do in the long run? Why? c. At what price would the firm consider shutting down
What is the impact of a knowledge-based economy in Qatar countries? What is the impact of a lack of a knowledge-based economy in Qatar countries?
Absolute advantage in beef production - which country has the absolute advantage in computer production?
Critically evaluate the impact on the UK supermarket sector of the immediate economic uncertainty created by the decision of the United Kingdom to exit the European Union.
Evaluate the view that economic growth is best achieved through improvements in technology.
Did you understand the main point this activity was created for? Explain. What is one thing you really liked? In what ways can the activity be improved?
What is 'mixed' in a mixed economy? How will the allocation of resources be affected by technological advances which significantly reduce the cost of producing?
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