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how does economic theory contribute to managerial decisions?
Task 1 Your line manager has asked you what you think the accounting department's role is in relation to the organisation. In your group, discuss the main purpose of accounti
What are Harrod-Domar assumptions? The H-D (Harrod-Domar) model assumes as: • Fixed capital output ratio. Nonetheless, diminishing marginal returns to capital element exist
QUESTION 1 (a) Explain the relationship between scarcity, choice and opportunity cost. (b) How is choice about the use of scarce resources made in a market economy? QUES
Why do you assume there are an increasing number of organisations related along with the development of quality practices for IS development? Information systems frequently rep
Can national income figures be used to make comparisons of standard of living among countries? National income measures the Gross Domestic Product of country and therefore can
What is a bowed out shape? Why does a production possibilities frontier with increasing opportunity costa have a bowed-out shape?
why is the elasticity of demand useful
1. (classical monopoly pricing) A monopolist faces a demand curve q (p) = 100 p: (a) If its cost function is C (q) = 2q; what is the optimal level of price and quantity? (b
QUESTION 1 (a) What, according to you, are the ergonomic problems associated with the use of visual display units? Describe the measures which can be taken to eliminate these p
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