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Problem 1:
a. Describe the term ‘inflation' and explain the relationship between money supply and inflation.
b. Describe the conditions and processes that are associated with the following types of inflation:
(i) Demand-pull; and (ii) Cost-push.
Problem 2:
a. What are the main reasons why a government might seeks to control a monopoly firm's profit?
b. Draw a diagram to compare long run output decisions for a monopolist and a perfectly competitive firm.
c. Describe why in some ways monopolies can be good for an economy.
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A Competitive Short Run Supply Curve of Firm * Observations: - P = MR - MR = MC - P = MC * Supply is amount of output for every possible price. Thus: - If
discuss the central economic problem facing survivor group
What is the benefit (main work) of economics in our life? Economics plays a very important role in development of a country. A country's economy shows the stability of that co
Consider an economy, in which technological capabilities become obsolete. Use the Solow-Swan model and the knowledge spillover model to explain how its productivity growth rate dep
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