Briefly describe the axioms of hannah and kay (1977), Business Economics

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QUESTION 1

i) Distinguish between the different kinds of concentration measures

ii) Briefly describe the axioms of Hannah and Kay (1977)

iii) Derive and explain the Dorfman and Steiner (1954) condition for optimal advertising

QUESTION 2

i) What are the different stages of economic growth?

ii) What are the major causes of deindustrialization?

iii) Is there a stable link between inflation and unemployment in the long-run?

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