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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 difference between wealth and income? Difference between wealth and income: • Wealth , which is a stock value that is the current value of assets for example b
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How do I calculate NPV with benefits and costs?
WHAT IS OPPOTUNITY COST?
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How is staff experience affected to an IS project? Staff experience: Into IS, the productivity of people, particularly developers, can vary extensively, largely but not c
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