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This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children in a study of the demand for types. In fact it involves distinguish between the total market demand and market segments. Such segments may be derived in terms of income social status sex age male female ration urban rural ration educational level geographic location etc. The segment when qualified can be used an independent variable affecting the demand of the product in question.
Distinguish demand pull, cost push and imported inflation using graphs where appropriate. What are the likely causes of current inflation in Australia? Answer Co
#questioSuppose the US and Mexico both produce semiconductors and auto parts and the US has a comparative advantage in semiconductors while Mexico has a comparative advantage in au
Johnson Farms owns valuable farm land that allows it to produce wheat at a lower cost than its competitors. The company reports large profits each year on its accounting statements
argument against in favour of traditonel theory profit maximisation
explain how scarcity impacts choice 2.expain the three steps process in economic analysis
total revenue
Ask qI run a company that makes household power plants that use microeconomic textbooks to generate enough electricity each day for one house. Since there are a lot of used microec
Direct and Indirect Benefits Life time earnings of an educated person is an instance of direct benefit from education. Skills produced in training or extension programmes in a
Aska) Summarize the basic tenets of the arguments in thiscase b) Do you agree with main tenets of the arguments in the case? Why? Justify your answer with detailed explanations.
Review: Full, Anonymous: No Answer each of the following questions using economic theory covered in this lesson. 1. Marginal revenue product is defined as the change in total
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