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what is monotonisty
a) What do you understand by equilibrium National Income and to what extent is economic growth beneficial to an economy? b) Explain using both diagrams and mathematical tools,
construct a decision tree for the baked potatoes outlet using sales per day, number of days that quantity is sold together with selling prices per unit and average costs
A firm producing hockey sticks has a production function given by X = 2 KL In the short-run, the firm's amount of capital equipment is fixed at K = 1000. The rental rate fo
How we can measure Elasticity of demand Though a manager requires an exact measure of this relationship for appropriate business decisions. Elasticity of demand is a measure t
show how scarcity and opportunity cost are useful in decisionmaking
principles of time perspectives
PER CAPITA INCOME AND INTERNATIONAL COMPARISONS Per capita income figures can also be used to compare the standards of living of different countries. Thus if the per capita in
POPULATION SIZE AND DEMOGRAPHIC TRENDS a. Changes in Population The people of a country are its consumers. They provide the labour force for production. A study of
Price elasticity of demand The price elasticity of demand is defined as the degree of sensitiveness or responsiveness of demand for a commodity to the changes in its price. Mo
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