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Problem:
i) Differentiate between economic development and economic growth.
ii) Describe carefully how, using the expenditure approach, national income is calculated.
iii) Critically analyse the different measures of economic development.
iv) Describe using diagrams why a 10% increase in investment leads to a higher percentage increase in National Income?
what is tariff and qouta
Utility-Expenditure Duality: Consider the minimisation of the expenditures necessary to achieve a specified utility level. The solution for qi yields the compensated demand f
Price Elasticity A measure of the change in demand for a product relative to unit changes in the price of the product. If the percentage change in quantity demanded is greater
give a detailed discussion on the term economics of scale as applied to economics, highting examples,limitation,and original of economics of scale.
1. Cost minimizing firms must be profit maximizing as well. False, why??
Work of Denison Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
what are the advantages of a monopsonistic labour market
Case 1: The market for drugs Supply, demand, and equilibrium: The market for drugs. Suppose the market for drugs is a perfectly competitive market. Let the supply curve
meaning, scope, nature
Challenges and discussions
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