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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.
7.Consider the following production possibilities table: Option Y X A 0 100 B 80 80 C 120 50 D 140 10 a)Provide a measure of the approximate marginal opportunity cost of
suppose either computers or televisions can be assembled with the following labor inputs: units produced: 1 2 3 4 5 6 7 8 9 10 total labor used: 3 7 12 18 25 33 42 54 70 90 Draw th
derive demand equation
Q. Explain Labour Intensity? Labour Intensity: Ratio of labour effort expended, compared to total on-the-job compensated labour time. A higher ratio of labour intensity reflect
Market demand and supply of a good is shown by QB = 2,160 - 180P and QS = -2400 + 300P where QD, QS and P stand for quantity demanded, quantity supplied and price respectively. (a
Demand and supply curve for french breads
a) An enhances in the quantity demanded of a good can happen because consumers expect the price of that good to enhance in the near future. b) A price ceiling imposed above the
Strictly give the diff. btw the theory of reciprocal demand & theory of comparative advantage
(ii) Find a real-world example of second-degree price discrimination. Describe the important aspects of your example in detail and analyze it using economic theory. In particular,
Q. What is Exchange Rate? Exchange Rate: The ‘price' at which currency of one country can be converted into the currency of another country. A country's currency is ‘strong,'or
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