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Monopolistic Competition and Oligopoly:
It was recognized that most industries exhibit the features of monopolistic competition in real-life. However, it must be pointed out that the formal theory of oligopoly to date has not been conspicuously successful.The reason adduced is that it is very difficult to determine precisely how firms will react to the price and output decisions of their rivals.
relationship between total utilities and marginal utilities
Transfer Payments: Governments typically redistribute a share of tax revenues back to specified groups of individuals in form of several social programs (like welfare benefits, pub
Describing Risk * To measure risk we should know: 1) All the outcomes which are possible. 2) The probability that each outcome will occur. * Interpreting Probability
Privatisation of the Economy: Privatisation has to be viewed in two ways: In a narrow sense, it implies the induction of private ownership in a public sector undertaking. In a
explane a kinky demand curve model
Question: There is widespread belief that the process of globalization has largely bypassed Sub-Saharan Africa, leaving the sub-continent in a state of marginalization in the w
Question 1: (a) Describe the different forms that foreign aid may take. (b) Does foreign aid lead to economic growth? Discuss. Question 2: (a) Distinguish between ec
4 models
how to compute the price of a laptop increase of 20% and there is a 40% drop in the aquantity demanded
What is the difference between decreasing marginal returns and negative marginal returns?
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