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1. According to the World Health Organisation, cancer is one of the top killer diseases in Malaysia. Suppose that the Minister of Health is deciding whether or not to increase the research allocation for cancer research. As economic advisor to the Minister, what important factors should you take into account when advising him? Explain why. (Hint: Apply at least one of the concepts you have learnt from the ten principles of Economics).
2. According to the Forbes list of billionaires, Tan Sri Robert Kuok is the richest man in Malaysia and a prominent figure in Asia. Do you think billionaires like Robert Kuok face scarcity? Justify your answer with appropriate examples.
If 1 seed is 120$, and farmer may earn 2 bushels of wheat from 1 seed, then 5 bushels of wheat from 2 seed and 8 bushels of wheat from 3 seeds then the total cost is increasing in which of the following ways if there are no any fixed cost, a. increas..
Classify the following as quantitative or qualitative variables- Gender, Brand of soft drink
1. indicate whether each of the following statements is true or false and explain why. do not simply give a corrected
Jean-Baptiste Say argued that entrepreneurs should be called the fourth factor of production because they organize the other factors and make things happen or else.
An agricultural engineer from Whitehall, Wisconsin has discovered a new method of milk extraction that causes less swelling to a cow’s udders, and therefore each cow has a faster recovery time between milking.
after graduating from college you receive job offers from five different accounting firms. all job offers have a
b. What could be the basis (calculations) that made the chief of obstetrics to claim that the department was actually generating over $3,000 per delivery.
explain the theory of 3rd degree price discrimination as it applies to the airline industry including a graphical model. Explain how and why airlines would choose to practice price discrimination.
select a country of your choice and collect the following data for the most recent year available. refer to the
The Fed’s decided to maintain its low interest-rate target in the face of a rightward shift of the AD curve in the late 1960s which led to an inflationary equilibrium. Discuss the long-run and short-run costs and benefits of the Fed are other two opt..
A firm operating in a competitive market has the following production function Q = 10L - L2 ,If the firm's output sells for $10 per unit and it pays $40 per unit of labor, what is the firm's equilibrium level of labor utilization?
In scenario D2, Lorena's income is $70,000 and the price of moviesrises to $11 each. 3 Quantity demanded PRICE ($)D1D2501510352515a) Using the data under D1 and D2, calculate the cross elasticity ofLorena's demand for golf at all two prices. Are m..
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