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Price Ceilings and Floors 1. Explain the impact on the market if the government imposes the following price ceilings and floors. 2. Draw two graphs, one for eggs, and one
QUESTION a) Differentiate between returns to factor and returns to scale. b) In the long-run the Average Cost Curve is u-shaped. Discuss c) Whenever a firm is making loss
why is the elasticity of demand useful
What are the advantages of informal economy? Advantages of the informal sector: • Employment, opportunities and income. • Offers cheap inputs for the formal sector •
about replacement and historical costs
Accountants prepare income statements typically in terms of historical costs, in terms of the purchase price, rather than in terms of the current price. The reasons given for this
What is the function of a Quality Plan? Who must create it? The Quality Plan effectively defines how the work is to be executed and this is complementary to the Project Plan th
how does economic theory contribute to managerial decisions?
Question The Borneo Shop imports and sells a popular Blue Ray DVD player. The following current information about the business is available: Selling price per play
How is the social capital measured? Measurement of the socilal capital: Social capital is a latest, multidimensional, qualitative idea which is problematic to measure. Res
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