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Suppose you have ten individuals with values ( $1, $2, $3, $4, $5, $6, $7, $8, $9, $10) . Your marginal cost of production is $2.50. What is the profit maximizing price?
What causes migration? Rural-to-urban migration is a usual LDC experience. Those are migrates within search of better SoL, those are generally younger, less risk adverse and b
QUESTION (a) Explain the Law of demand and the factors affecting demand for a product or service. (b) Explain and illustrate diagrammatically how the market demand for a pro
explain why each of the following factors influence the own price elasticity of demand for a comodity 1. Consumer preferences 2. the narrowness of definiton of the commodity
What is the fixed cost
What are factor endowment implications? Implications of factor endowment: • Less Developed Countries to specialise and export labour intensive goods, agriculture or commodit
What are the factors of evaluating a policy or institution? Factors to consider during evaluating a policy or institution comprise: • Internal and external constraints onto
QUESTION (a) What are the causes of inflation in an economy? (b) Discuss the policy implications that the central bank will implement if there is excess liquidity in the mar
What is the difference between real and nominal Gross Domestic Product? National Income consists of a price and a quantity element. When the price level doubled along with simi
factors that affect the volume of production in economy
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