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Describe the poverty cycle and suggest how a developing country can break the cycle.
The poverty cycle is explained as the trap developing countries can land in; low incomes → low saving →low investment→low incomes. As for the issue of breaking the cycle there are a range of possible suggestions, all of which unfortunately encounter any number of other obstacles.
Comparison of sameulson revealed preference theory with the Hicksian revealed preference theoru
diffence b/n fixed and variable input
Explain how oligopolies can work both for and against consumers. Oligopolies market power can of course work against consumers - as price-setting and any form of collusion will
RECENT DEVELOPMENT OF DEMAND THEORY: The basic theory of consumer behaviour discussed in the previous unit can be extended in many directions, and can be applied to cover opt
Homework 4 Q1. Suppose a consumer has utility function (u) = xy where x and y are amounts of two commodities that this consumer consume. Suppose this consumer’s income is $120, pri
A portion of the demand schedule for wax candles (per case) is shown below. Px $50 $30 $10 Qx 500 600 700 What is the demand curve (straight line) that corresponds to the schedu
(a) Describe clearly how the interest rate is determined in: (i) Loanable Funds Framework; and (ii) Liquidity Preference Framework. (b) According to Liquidity preference
Contribution of bonds in n economy.
why is the point outside the production possibility curve(PPC)called unttianable
. Crumble Corporation produces cookies. Here is the relationship between the number of workers and output (in dozens of cookies) in a given day: Workers Output Marginal Product
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