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Problem 1:
i) Distinguish between the different types of concentration measures.
ii) Derive and explain the Dorfman and Steiner (1954) condition for optimal advertising.
Problem 2:
i) Outline how the marginal revenue productivity (MRP) theory suggests that level of wages in an industry is determined under both perfect and imperfect competition?
ii) Suppose a firm is a monopsonist in the labour market it hires. Its MRP of labour is 14 - L and the wage rate is W = 2 + L.
a. How much labour the firm will hire and what wage rate it will pay?
b. How much labour it will hire and use if a minimum wage rate of $ 10 is imposed on it.
The Schrodinger wave equation generalizes the fitting-in-of-waves procedure. The waves that "fit" into the region to which the particle is contained can be recognized "by inspect
what is linear programming
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CONCEPT AND MEANING OF INFRASTRUCTURE: Infrastructure sectors are the backbone of a national economy. It has been commonly opined that infrastructure development is closely re
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i) Two firms, A and B, are operating in a UK textile industry under duopolistic condition and choose to either produce at "High" price or a "Low" price. Suppose you are the man
A Competitive Short Run Supply Curve of Firm * Observations: - P = MR - MR = MC - P = MC * Supply is amount of output for every possible price. Thus: - If
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