Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
(a) Explain the meaning of efficiency in economics and use a sketch diagram to illustrate its attainment by reference to the Production Possibility Curve.
(b) Refer to the concepts of allocative efficiency, productive efficiency and dynamic efficiency to explain how a perfectly competitive market allocates resources to achieve the maximum satisfaction of material wants. Use a diagram to illustrate a perfectly competitive firm's long-run equilibrium.
(c) Referring to the same three concepts of efficiency, explain why a monopoly market structure is often regarded as less efficient than a perfectly competitive market. Use a diagram to illustrate your answer.
Question 1: (a) Distinguish between the short run and long run profits of a competitive firm by using graphical representations. (b) Compare and contrast between perfect c
What is the difference between heckscher_olin theory and comparative theory
The aggregate production function Definition Imagine the national economy during a short period of time (say one week). We refer: L: total amount of work used duri
Could you explain the "interest rate effect" in terms of the slope of a curve?
Q. Describe about consumption function? The consumption function Consumption C(r) is assumed to be negatively related to the real interest rate r
How central bank increases the target rate Let's say that the central bank increases the target rate. When the target rate increases, the central bank needs to raise the overni
What are the Changes in the exchange rate Assume that United States is our home country and that current euro exchange rate in direct notation is SD= 1.5 (euro/USD). In indirec
circular flow of national income?
A, Explain how a person can be free to choose but his or her choices are casually determined by past event 2 B , Draw the casual tree for newcomb''s problem when Eve can''t perfe
The rest of the world in the cross model Imports Im(Y) depends positively on Y in the cross model In the classical model, imports doesn't depen
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd