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Question 1:
(a) Explain, giving examples, the law of diminishing returns, clearly bringing out the relationship between cost curves and product curves in the short run.
(b) Analyse the effects of returns to scale on the cost of production of a firm in the long run.
Question 2:
(a) Explain how airfares are determined by airline companies.
(b) Analyse and comment on the pricing strategy adopted by a few airline companies that decide to collude in the long run and form a cartel for a particular air-route.
I want a presentation on Saudi Arabia''s economic forecast for 2018 to 2020 and role and future of travel industry in it.
Discuss about the free market economy in short. Free market economy: Households own resources and markets assign resources throughout the price mechanism. An increase wi
Summary Strategy management Variables Rewards
Question 1: a. Describe the role of trade union in the wage bargaining process. b. Formulate a model that tests for the wage gap between union and nonunion earnings in a
QUESTION (a) Explain the 3 methods of calculating National Income? (b) Why do all countries in the world calculate their National Income every year, despite all the difficul
Problem 1: (a) The Mauritian government is now increasingly involving the private sector in the development of the economy. How can government support effective private sector
what are the pricing policies
How do economists group countries at various stages of development? There are three major forms of classifications: • IMF: Developing and industrial, transitional economi
What is the Infant Industry argument? Several governments seek to protect involving industries by premature competition. Infant industries have potential comparative benefit b
QUESTION (a) Explain the term Balance of Payments (BOP) and how a government would intervene to correct a BOP deficit. (b) Explain the protectionist measures that a governme
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