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What are the "three basic economic questions" that economists often address when examining how much economic output is formed? The three basic questions are: a) what is prod
The Bushman Cinema is the only movie theatre located in the medium-size country town of Sleepy Hollow. The owner wants to charge an admission fee of $10 per seat and past experien
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what is The most important source of oligopoly?
Demand and supply curve for french breads
Individual Assignment ECO101 - PRINCIPLES OF ECONOMICS electronic submission via Moodle 6 Questions 100 marks (15% of total course) All questions should be attempted. 30-50 w
Question : (a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether c
Perfect Competition It's a market where conditions prevail like that buyers and suppliers are without the ability to manipulate price in any significant way such that the marke
Can marginal cost be constant? If so, does this mean that marginal cost are equal to average variable cost?
Explain how unemployment could be voluntary or involuntary . Start off with a definition of the labour force and then outline the proportion of the labour force which would be
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