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Question 1: Poverty reduction is generally influenced by changes in average income and income redistribution. Thus, in practice it is hard to adjust to the right balance betwee
QUESTION No point is better accepted than the fact that the monopoly price is higher and the output smaller than what is socially ideal. The public is the victim. (a) Distin
QUESTION (a) One of the differences between a monopolistically competitive industry and a perfectly competitive one is that in the former, there is product differentiation. (i)
The problem with the above method crops up when we want to compare two or more dissimilar (different sized) projects. A mega project may yield a very large NPV sum, whereas a mini
In what conditions might you (1) increase or (2) decrease the amount of supervision specified to a team member? Where a quality problem has been distinguished in an individual’
If the Government decreases the interest rates on capital goods such as new plant and equipment and building. Investment also include spending on working capital such as stocks of
Are weaknesses of financial markets a problem? Problem: a. Potential entrepreneurs require funds to finance new projects. Financial institutions, as like banks, are middle
What is a bowed out shape? Why does a production possibilities frontier with increasing opportunity costa have a bowed-out shape?
QUESTION (a) Explain the law of demand and the factors affecting demand. (b) Explain and illustrate how demand of a commodity will change if there is a tax on that product.
Is foreign debt a problem? Foreign debt is the whole amount owed overseas through a country at an exact moment in time. Debt is a problem since • High debt imply high inter
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