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The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-2.5Py+7.5Pz Where Px is the price of brand X, I is per-capita income, Py IS the price of brand Y, and Pz is th
#question.Question: Answer all parts (a, b, c, d, e & f). Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L,
Implicit in these analyses is the fact that without government we could have neither shortage nor surplus. In large calculates, the suspicion of government is due to it has the po
Use a PPF to explain the trade-offs that all economies face. All countries must construct some sort of system whereby output, allocation and distribution of goods is decided.
1) Describe (with an example) how trading can lead to an increase in world output if countries specialize in the good in which they have a comparative advantage. How does the intr
This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children
what are the factors influencing supply
consumer surplus and elasticity of demand assumption of consumer surplus criticisms of consumer surplus consumer surplus in terms of indifference curves importance of the concept o
This research will follow the methodology of econometrics; Chao, 2005; Castle & Shephard, 2009): 1. Specification of the model using a specific stochastic equation, together wit
Types of Regional development financing arrangements: Regional development financing arrangements have been of three basic types. The oldest and best-developed type is mul
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