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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.
how many statics numericals in quantitative economics
Can anyone type me a paper on the book financial fiasco? I will provide with a link to the book.
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Below is a given Frequency Distribution Table which needs the Student's attention. Please complete the table as necessary to find the following information: a. What is th
How do institutions influence development? Institutions development influence: Institutions matter since they give opportunities for people and firms to participate into
WHY DO GOVERNMNETS PLACE HIGH TAX RATES ON PRODUCTS SUCH AS PETROLA ND CIGRATTES
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 the import substitution policies? Import substitution policies are as follows: Need trade restrictions for example, tariffs and quotas to defend infant industr
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