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An agent has a utility function over goods 1 and 2 of the form U = x c 1 x d 2 where c is your 1- digit number and d is your minimum number. The agent's income is equal to you
What are economic systems? An economic system is the system of organisations utilized by a society to solve the economic difficulty of what how and for whom to make. There are
QUESTION a) State and explain the assumptions of a perfectly competitive market. b) Analyse the effects on the firm's profit and output of an increase in demand in the short
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Explain about the characteristics required in a risk owner. To be effective within their role, a risk owner’ requirements are as follows: a. Adequate information regarding a
Is agricultural price instability a problem for Less Developed Countries? Problem of agricultural price instability for LDCs: a. Several Less Developed Countries have a com
There are three industrial firms in a quaint town of South Orange where the municipal government wants to reduce pollution to 120 units from uncontrolled level of 210 units. Three
How can trade agreements assist development? A trade agreement is while two or more countries to by decrease or abolish tariffs, non-trade and quotas barriers which are establ
Question 1: Write short notes on any FOUR of the following: (equal marks each) (a) Law of diminishing returns (b) Barriers to entry (c) Consumption Function (d) Devaluati
What is matrix algebra, give some examples and its types
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