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Problem 1:
i) ‘There is a trade-off between inflation and unemployment.' Do you agree with this statement? Justify your example using appropriate diagrams.
ii) Mauritius is actually facing a problem of high unemployment. What measures can be taken to remedy the situation?
Problem 2:
i) What do you meant by the term ‘economic efficiency'?
ii) A perfectly competitive firm is better than a monopolistic firm in terms of economic efficiency. show
iii) What are the advantages and disadvantages of a monopoly market?
what is a sub game perfect Nash equilibrium
Variable and Total cost curve * Consequently (from the table which is given): - MC initially decreases with increasing returns 0 through 4 units of output
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what is the importance of law of supply
Does the curve represent if the risk is NOT taken and the line connecting two points on the curve represents if the risk IS taken?
Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commod
CleanAuto Inc. has four workers: Julie, Ian, Devon, and Thomas. CleanAuto Inc. provides two services: interior vacuuming and exterior wash. Julie can perform each of these tasks in
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