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Infrastructure :
Infrastructure plays an important role in the development of an economy. The adequacy or lack of it determines an economy's success or failure in increasing production, expanding trade, reducing poverty and improving environmental conditions. Infrastructure is of two types: economic and social. In this unit, we shall discuss the performance of various components of economic and social infrastructure, their growth and trend, inter-state disparities and implementation related issues. Let us begin with stating the concept and meaning of infrastructure.
Profits University creates student credit hours (y) with two inputs: Professors' hours of work (x1) and TAs' hours of work (x2) according to the manufacture function: f(x1,x2)= 10x
if the price of labour is 2000 per hour and the price of capital is 1000 per hour.is there an efficiency point of production.
Consider a consumer with the following Cobb-Douglass utility function: U (x, y) = x α y 1-α a) Find the Marshallian Demand for both goods. b) Find the Price Elasticit
When is the price of a product demand determined? The price of a product is demand defined while the product is in fixed supply. This means that the price of the product is defin
Suppose Dlamini has R5 000 to spend on trousers and shirts. The price of trousers is R500 each and that of shirts is R312.50 each. 6.1 Use the information and calculate consumer eq
In the city of Gelato the market for ice cream is perfectly competitive. Aggregate demand for ice cream is: D(p) = 1200-25p where p is the price for one cone of ice cream. Al
discuss how economic theory of marginal utility explains the optimum pattern of consumption for an individual consumer
Labour Extraction: Most employees under capitalism are paid according to time they spend at work. Though employers then face a challenge to extract genuine labour effort from their
Economic Development The word development is from the Latin root ‘Voloper’ which meant wrap up, envelop. The English used this word along with ‘des’ meaning ‘undo’. The word
1. Why does inflation make nominal GDP a poor measure of the increase in total production from one to the next? How does the U.S' BEA deal with the problem inflation causes w
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