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QUESTION
a) Differentiate between price, income and cross elasticity's of demand.
b) How can the concept of price elasticity be useful to the owner of a supermarket who wants to maximise sales revenue? Explain your reasoning, with the help of appropriate examples and diagrams.
c) Distinguish, with the help of diagrams and examples, between a firm's fixed cost and variable cost.
d) Explain why all firms aim at growing big in size.
explain the role scarcity of resources plays in economic decision making
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How is the equality of income distribution measured? The Gini coefficient is a statistical type measure of income distribution. This Gini coefficient is: • 0, which impl
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Write a book review of a book of your choice (chosen from the list of course reference literature) by either Joseph A. Schumpeter or Israel Kirzner about entrepreneurship and macro
state the demand theory.
Find 1-3 articles that discuss the competition between Target and Walmart.
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Select an organization and discuss what type of information should be protected in a BIA plan. How would you ensure protection of the confidentiality of such information and preven
how economics useful for businesses
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