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OBJECTIVES OF GOVERNMENT Government policies are required in market economies to achieve certain goals. There are broadly two types of government policies viz; Microeco
The use of arc elasticity in economic analysis involves a good deal of chariness since it is capable of being misinterpreted. Arc elasticity coefficients vary between the same two
critically analyze the of profit maximization
Contributions of economic theory to business economics According to Baumol, there are 3 key contributions of economic theory to business economics. 1. Practice of building
The demand for good X is estimated to be: where p x price of X in dollars M = personal disposable income in trillions of dollars per year P y = price of a competitive in do
Describe the Managerial decisions Managerial decisions are an important component in the working wheel of an organisation. The failure or success of a business depends upon the
The production function of the personal computers for DISK Company is given by Q = 10 KL where Q is the number of computers produced per day, K s the hours of machine time,
Provide two examples of identity economics other than those given in the article
theory
Indifference Curve Analysis In the 1930s a group of economists, including Sir John Hicks and sir Roy Allen, came to believe that cardinal measurement of utility was not necess
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