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Problem 1:
(a) Explain the common set of problems that developing countries usually face.
(b) In your opinion, which of the problems described in part (a), are more significant to Mauritius? Justify your answer.
(c) Critically assess whether education is a source of economic growth and development.
Probelm 2:
(a) Describe the different views on development.
(b) Describe why development must be conceived as a dynamic and multidimensional process, involving major changes in every aspect of a society.
A city government regulates taxi fares. It also limits the number of taxicabs (by licensing), and has not changed the limit on cabs for lot of years. At one time vacant taxis wer
A government is currently operating with an annual budget deficit of $40 billion. The government has determined that: • Every $10 billion reduction in the amount of bonds it issue
1)The productive capability of an economy is such that to produce 5 units of military good it takes 2 workers to be employed while 10 units of consumer goods require 3 workers. Res
WHAT ARE THE COMPONENT OF ECONOMICS
illustrate and discuss the implications of various market structures (competitive and non competitive) for price determination
Ask questA rmuses 4 inputs to produce 1 output. The production function is f (x 1 ; x 2 ; x 3 ; x 4) =minfx 1 ; x 2 g + minfx 3 ; x 4 g.ion #Minimum 100 words accepted#
Long Run Average Cost (or LAC) -Constant Returns to Scale If the input is doubled, the output will double and average cost is constant at all the levels of output.
List and describe the determinants of the price elasticity of demand and of supply.
Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable
Characteristics of prisoners dilemma
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