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1. A monopolist faces the industry demand Q=400-0.5 p and has constant marginal costs of 8, with no fixed costs. a) What is the monopoly price? What is the monopoly quantity?
QUESTION (a) In several countries recently, many people have become unemployed. Analyse the different types of unemployment in an economy. (b) Define inflation and explain i
Suppose you are the only market analyst in your company's management team. Your company belongs to the energy industry. It is an oil and gas company engaged in the exploration, d
Aska) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the c
how the concept of elasticity used for decision making
which product we choose
Star Petroleum and Moonlight Petroleum are retail petrol stations that compete in the local market to sell petrol to consumers. Star and Moonlight are located across the street fro
(a) Assume that Purchase Price is equal to initial Market Value (b) Your Market Rent starts at the indicated level and increases by this factor for all of Year 2 and for each y
What are the traditional, modern sectors and rural-urban migration? Rural-urban migration: Rural-urban migration is the movement of labour through the countryside to cities
definition, advantages and disadvantages of privatisation?
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