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Q. What is Cost effectiveness analysis?
Cost effectiveness analysis A method which seeks to identify the least cost option for meeting a particular objective. It actives prioritisation between options, but ultimately cannot assess whether an option is economically worthwhile.
Explain the term Fordism Between approximately 1890 and 1930-or perhaps 1890 and 1950-a host of innovative technologies and business practices were adopted in the US. Europeans
Steel and aluminum production Steel Canada 500, France 1200 Aluminum Canada 1500, France 800 The maximum amount of steel or aluminum that Canada and France can produce if they full
What is Expenditure Function? The Expenditure Function: When preferences satisfy the local nonsatiation assumption, in that case v(p, m) will be strictly increasing into m.
factor afecting the demand for durable product
THEORY OF INTER-TEMPORAL CONSUMPTION: In the previous two units, we have been concerned with choices among contemporaneous commodities. An important class of choices made by c
A tax imposed on a market with an inelastic demand and an elastic supply will cause
give assumption, rules/formulas and demonstrate that ramsey prices are the seconnd best pricing. explain clearly.
using the marginal utility approach, discuss how economic theory explains the optimum pattern of consumption for an individual consumer. consider how far this analysis can explain
In a competitive market, the market demand is Qd = 150 - 5P and the market supply is Qs = 5P - 10. As a result of a price ceiling imposed at $14, the new consumer surplus and produ
graphing a isoquant
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