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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.
What is Deflation? Deflation in economics refers to reduce in the general price level, i.e. the nominal cost of goods and services as well as wages reduce. As, it is an opposi
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I have to do a project on the blocks in periodic tables. How specifically should I describe them? Should I describe each block''s characteristics, and if so, which ones? P.S. This
What types of external economies generates the output which reduces the costs of the firms in it? The chief example of external economies provided by marshal are (i) improved
Q. Natural environment for economics? Environment: The natural environment is an essential aspect of the economy, whose influence is felt in several different ways. Everyone
Suppose that a firm’s production function is given by Q=30L-3L2, where L is labor input and Q is the output. a) Derive and draw the firm’s demand for labor while the firm’s produc
Question 1: Compare and contrast between perfect competition and monopoly. Which of the two types of market structures is efficient? Question 2: Prepare a short notes
Which of the following statements is correct? a. Consumers have the ability to buy everything they desire. b. A consumer''s budget line shows the limits to what a consumer can buy.
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