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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.
How does planning serve as a solution to economic problems?
theory of profit
Random sampling is a technique for sampling which we can select a group of subjects or a sample for study from a larger group or a population. Each entity individually is chosen en
The largest public utility company in New South Wales (NSW) is the sole provider of electricity across all regions in the state. The monthly demand for electricity in NSW is given
Ask qExplain 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 com
is south african economic system more allocative efficient?
1.A firm producing Golf sticks has a production function given by Q=2v(K L) In the short run, the firm’s amount of capital equipment is fixed at k = 100. The rental rate for k
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
Factors of Production : The factors of production are the resources that are essential for production. They are usually separated into 4 dissimilar groups: Land - all natu
Question 1: Define the concepts price elasticity of demand, income elasticity of demand and cross elasticity of demand and explain how these concepts can be useful to the man
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