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Question 1: "Policy can be conducted by rules or discretion.. The increased role of expectations led to some economists arguing that it would be best to force monetary policy
QUESTION (a) Explain the Law of demand and the factors affecting demand for a product or service. (b) Explain and illustrate diagrammatically how the market demand for a pro
constraints
Managerial economics bridges the gap between economic theory and practice
QUESTION 1 i) Distinguish between the different kinds of concentration measures ii) Briefly describe the axioms of Hannah and Kay (1977) iii) Derive and explain the Dorfm
Suppose an oligopoly consists of three identical firms. Industry demand is P = 100 - 2Q and MC = AC = 20. What is the Cournot–Nash equilibrium output in this industry
(a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the comm
using 8 units of production resource to produce 10,000 c0ws by a farmer how many sheep could he have produced
Question 1 ‘The consumer is always king in the market place'. Critically examine this statement, highlighting the existence of market imperfections. Question 2 (a) Dis
QUESTION 1) Explain the term Balance of Payments (BOP) and how a government would intervene to correct a BOP deficit. 2) Explain the protectionist measures that a government
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