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concept of supply
(i) When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3. (ii) Given the demand function 0.1Q - 10 +0.2P + 0.02P2 =0, calculate the price elasticity of
Efficiency of exchange
Draw a Production Possibilities Frontier with consumer goods on the vertical axis and capital goods on the horizontal axis. Show how the PPF will shift if the production of capita
1. What are the uses of elasticity to the public sector and private sector? (20 marks)
model of sylos labini
Business sell to households in the resource markets, but households sell to businesses in the product market
Strong Domestic Economy: We have to realise that healthy export sector can be built up only on a strong and efficient domestic economic structure. A sound domestic economy is
how do oligopolistic market and monopolistic competition react to change in demand and supply ?
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in terms of pr
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