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QUESTION (a) Explain the law of demand and the factors affecting demand. (b) Explain and illustrate how demand of a commodity will change if there is a tax on that product.
A clinic uses doctors and nurses optimally and is servicing the maximum number of patients given a limited annual payroll. The last doctor hired treated 1,600 extra patients in a
Why is the growth rate and significant for development? The rate of economic development is the percentage increase within real GDP over twelve months. • The higher rate of
how the concept of elasticity used for policy formulation
What is an alternative process strategy to the assembly line that Wheeled Coach currently uses?
Question 1 Part A - The following schedule shows the market for oranges. Use this data to answer the questions below. Provide full calculations for all your answers. (i)
Your student union has decided to support a local charity by fund-raising on a Rag Day to be held in the town. Key events include a fancy dress relay race with teams sponsored by l
analyse the effect of an increase in the price of sim cards on the equilibrium price and equilibrium quantity of cellphones handsets
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
What are the processes of industrialisation for productivity? The process of industrialisation increases productivity and per capita incomes and includes: a. Urbanisation
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