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QUESTION
a) State and explain the assumptions of a perfectly competitive market.
b) Analyse the effects on the firm's profit and output of an increase in demand in the short run and long run.
c) Explain with the use of appropriate diagrams the extent to which the existence of barriers to entry can make long-run equilibrium for a firm, operating under monopolistic competition, differ from that of a perfectly competitive firm.
Problem: (a) Companies A and B differ only in their capital structure. A is financed by 30 percent debt and 70 percent equity; B is financed 10 percent debt and 90 percent eq
What is Economic development theory? Economic development theories and models seek to describe and predict how the: • Economies may develop or not over time in excess •
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different types of firms
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QUESTION (a) Explain the 3 different ways of calculating national income. (b) Does the National Income figure accurately reflect the living standard of a population? Discuss
What is the success effectiveness of World Trade Organisation in the promotion of development? Success effectiveness of World Trade Organisation in the promotion of developmen
Illustrate some example of the development process affected on culture. Examples of the development process affected on culture: • Foreign Direct investment (FDI) and IMF st
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