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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.
What is the t-value associated with 25 degrees of freedom and 20% in the tail? (Please round your answer to 3 decimal places)
Net exports normally decrease with the effect when aggregate output decline. When a concretionary fiscal policy is implemented net exports will go up . When government maintain the
Why are the terms of trade deteriorating for Less Developed Countries? Problem: The substantial decline within real commodity prices and the deterioration into the terms of
a) What is the curse embodied in the standard production function? How does technological advance permit an economy to avoid this curse? b ) In what significant way doe
opportunity cost and decision making
Question 1 Explain the law of diminishing returns. What are its causes and effects? Question 2 Compare perfect and imperfect markets Question 3 A monopolist with a linea
What are the implications of the sustainability in economic growth? Implications of the sustainability in economic growth: Moving in the direction of sustainable development
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QUESTION In several countries recently, many people have become unemployed. Analyse the different types of unemployment in an economy. Explain the likely causes and conseque
Why do you assume there are an increasing number of organisations related along with the development of quality practices for IS development? Information systems frequently rep
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