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Question 1 Identify the basic postulates of economics Question 2 Discuss the role of price mechanism Question 3 Explain the shape and application of Engel curve
why is the concept of elasticity crucial to the study of economics?
cartels model of collusive oligopoly
explain bains model of limit pricing
Consider what would happen if a taxes of 10000$ was imposed on imported automobiles on dealers.Using a demand and supply diagram, show its impact of price and quantity. Suppose the
Statistical methods are considered to be superior techniques of demand estimation because: a. The element of subjectivity in this method is minimum, b. Methods of es
Ask factor affects elasticity of demandquestion #Minimum 100 words accepted#
Business Executives and Choice of Risk * Example - Study of 464 executives found that: 20% persons were risk neutral 40% persons were risk takers 20% perso
Types of budget: Surplus Budget: A surplus budget occurs when the expected government revenue is planned to exceed the proposed government expenditure. It can be achieved by
Problem: (a) "Economics is the study of how society decides what, how and for whom to produce". Describe the importance of opportunity cost to a society. (b) Distinguish bet
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