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You are given the following functions in a fully competitive market: Market demand function: Qd = 20 – 3P Market supply function: Qs = 4 + P Where P is price A) In which price s
What are institutions? Institutions are formal organisations as like: • Government : the group of some people and institutions who control and manage a country Civic socie
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
You can buy as many drinks as you want at $1 each. You can also buy as many chocolate bars as you want at $2 each. You have $5 to spend. You must buy whole bars and drinks, that is
limitations of pareto-optimal conditions as a measurement of welfare
Do all developing economies have same underlying problems? Less developed countries are similar but exceptional. The impact of a problem will vary depending upon circumstances
Oligopolistic Competition: Two rms are competing for consumers. They simultaneously decide what quantity to produce. Suppose they have identical cost c, zero xed cost and fa
Question 1 ‘The consumer is always king in the market place'. Critically examine this statement, highlighting the existence of market imperfections. Question 2 (a) Dis
What are the constraints facing governments in the promotion of development? The constraints facing governments into the promotion of development: The capability of a govern
How does the exchange rate influence the benefits of trade? Mutually beneficial international trade arises specified the exchange ratios lie among the internal opportunity cost
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