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What main features are found in oligopolies? Assumptions of oligopoly Four or five firm concentration ratio Frequently there are benefits of scale to be had Merg
Long-Run Versus Short-Run Cost Curves What happens to average costs when both the inputs are variable versus only having one input that is variable (short run)? The Inflexi
is south african economic system more allocative efficient?
Non-Accelerating-Inflation Rate of Unemployment (NAIRU): This theory is a variant of neoclassical natural rate of unemployment. As in original natural rate theory, NAIRU advocates
definition of abnormal isoquant and normal isoquant
(i) Define the three types of price discrimination, clearly stating the different information requires of each type of discrimination. (ii) Find a real-world example of second-degr
TC = 1q^3 - 40q^2 + 840q + 1800 Price= $750
Disposable Personal Income The amount of cash remaining after taxes are removed that an individual has the opportunity to spend.
a) Examine at least three (3) possible areas for the industry that could lead to transaction costs, and describe each in detail. b) Speculate about the behaviour that could
explain the following disadvantages of amalgamation. Complex nature
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