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Question 1: (a) The Mauritian government is now increasingly involving the private sector in the development of the economy. How can government support effective private secto
The Law for Diminishing Marginal Returns - As use of an input increases in equal increments, a point will be approched at which the resulting additions to output decreases
illustrate a long-run equilbrium using diagrams for the gold market and for a representative gold mine
Explain inflation, and the difference between anticipated and unanticipated inflation. Answer Inflation is the persistent rise in the general price level in the e
what is outputgap?
Ask questA rmuses 4 inputs to produce 1 output. The production function is f (x 1 ; x 2 ; x 3 ; x 4) =minfx 1 ; x 2 g + minfx 3 ; x 4 g.ion #Minimum 100 words accepted#
Protection against dumping: It could be looked at as the export of commodities priced below cost of production. Dumping is generally looked upon as an unfair trading practice
Suppose that you can produce high-quality beef at $3 per pound and sell it for $8 per pound. Low-quality beef costs $1 to produce but only sells for $4 per pound. If quality is uno
Reasons for development planning: To maximize the utilization of economic resources: The resources of any nation are not always enough for her use. In this wise, resources mus
You are the CEO of Comchip, a firm that sells specialized computers. Each of the firm's computers contain a unique chip that is produced at Comchip's west coast plant at a cost of
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