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Suppose a firm’s budget were large enough to employ 100 units of either labor or capital, the cost of a unit of labor being the same as a unit of capital. The production function i
In the absence of taxes, subsidies or other distortions, the market demand and supply for bags of cement would be given by Q D = 1500 - 10P and Q S = 140P, respectively, where Q
Explain the state intervention approaches for promoting development. State intervention can result within: • Large bureaucracies staffed through friends and relatives of the
What are the similarities among the developing economies? Common characteristics of LDCs (Less Developed Countries) include: • Low living standards (that is low real income
How does population growth produce development? The impact of population growth depends upon the form: • By net migration. When the increase into population is highly skill
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
Is low savings a problem? Countries along with low savings are caught into the vicious circle of poverty: there low savings, implies low investment low productivity therefore
What is an alternative process strategy to the assembly line that Wheeled Coach currently uses?
Explain a five-stage process for project risk management. The major stages in project risk management are as follows: •Plan the approach: This approach is described that is
explain why each of the following factors influence the own price elasticity of demand for a comodity 1. Consumer preferences 2. the narrowness of definiton of the commodity
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