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QUESTION
(a) Explain the relationship between scarcity, choice and opportunity cost.
(b) What is market failure and why does it occur in an economy?
(c) Differentiate, using appropriate examples and diagrams, between fixed cost and total cost.
(d) Discuss to what extent a large firm is able to benefit from economies of scale in the television manufacturing industry.
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using a diagram, evaluate the effect of a decrease in money supply to the equilibrium in the goods and money market
need help how to write a introduction for the assignment of business environment
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A businessman invested $ 4000.00 as his fixed cost in a new venture that produces batteries. Each of these batteries cost $150.00 to manufacture and he sells each battery for $180.
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