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Why does a production possibilities frontier with increasing opportunity costs have a bowed-out shape?
How is Harrod-Domar model used in planning? The Harrod-Domar model is helpful to government for setting target rates for saving required to deliver a specified rate of economi
Assume that national income is initially at its equilibrium level when desired investment falls. We would expect an enhance in national income by an amount equal to the decreasing
Why is not Aid improving development? Aid not improves development because: • Aid is spent on current consumption • It is spent on unsuitable capital as opposed to suitab
Explain the state intervention approaches for promoting development. State intervention can result within: • Large bureaucracies staffed through friends and relatives of the
What are Rostowís policy implications? • LDCs (Less Developed Countries) require aid. The development procedure can stall at the Take Off stage for be short of savings. 15
What are the restrictions of Lewis? The restrictions of Lewis: • Assumes complete employment in urban regions. Evidence recommend otherwise • Raised profits may be inves
I am given that demand formula P=150-3Q, am told I only have 40 tickets to sell and that the MC=0 and I am suppose to figured out how many tickets to sell to maximize total welfare
#quewhat is production analysis stion..
Ask question critically evaluate the two main utility theories #Minimum 100 words accepted#
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