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QUESTION (a) Using diagrams where appropriate, explain the concepts of scarcity, choice and opportunity cost. (b) Distinguish between positive and negative externalities, il
Mercier Corporation's stock is selling for $95. It has just paid a dividend of $5 s share. The expected growth rate in dividends is 8 percent. a. What is the needed rate of retu
Discuss the following in relation to China's market reforms: (1) the political and economic factors on the basis of which China decided to undertake market reforms; (2) how
suppose that you have 150 observations on production and investment and you have estimated the following ADL(3,2)model;
QUESTION 1 (a) Explain the relationship between scarcity, choice and opportunity cost. (b) How is choice about the use of scarce resources made in a market economy? QUES
What are state approaches to developing? The government supposes responsibility for economic planning to attain the best possible utilize of scarce resources. An economic plan
Problem-solving question: Use the following data for a firm’s output at various levels of employment (L) to calculate: a) its marginal physical product of labor (MPPL) schedule; (
New trade theory
How is business cycle essential in economic downturns and upturns? The Business Cycle: It is the short-run alternation between economic upturns and downturns. A
law of demand
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