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Question 1:
i) Elaborate on how CPI is used to calculate inflation and what are the limitations of such a measure?
ii) Growth is always beneficial. Discuss
iii) Explain the importance of both demand and supply factors in influencing the growth of GDP
Question 2:
i) State and explain the assumptions of a perfectly competitive market.
ii) Analyse the effects on the firm's profit and output of an increase in demand in the short run and long run.
iii) Elaborate on the various types of economies of scale and discuss whether they always improve the welfare of consumers.
types of demand
"Assume the local fixed telecommunications company is a monopoly. It costs the company €2 per month to give voice messages service to a customer. Elasticity of demand for voice mes
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INTERNATIONAL FINANCE CORPORATION: The IBRD loans are available only to member-country governments or with the guarantee of member-country governments. Further, IBRD can only
The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-2.5Py+7.5Pz Where Px is the price of brand X, I is per-capita income, Py IS the price of brand Y, and Pz is th
The Value of Title Insurance While Buying a House * A Scenario: - Price of house is $200,000 - 5% chance that seller does not own house * Risk neutral buyer would pa
The price at which output is sold in a perfectly competitive market is determined by
technological advance reduced the cost of computer chips . explain using the demand and supply diagrams , how the the following markkets are affected in terms of price and quantiti
How to prepare an assignment of Monopoly in economics#Minimum 100 words accepted#
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