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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 linear demand curve finds that it can sell two units at £ 120 each or 12 units at £ 20 each. Its fixed cost is £ 20 and its marginal cost is constant at £ 30 per unit
Question 4 Discuss Subsistence Theory and Wage Fund Theory of Wage Determination
Question 5 According to Bohm-Bawerk what are the reasons for the emergence of rate of interest?
Question 6 Discuss the short run and long run aggregate supply curves
1. Imagine that two countries, Richland and Poorland can produce just two goods, computers and coal. Assume that for a given amount of land and capital, the output of these two pro
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If an economy is experiencing reduction, will the nominal interest rate be higher or lower than the real interest rate? What is the equation that relates nominal rates, inflation a
Brand names can be important to the success of a firm in some industries. Consider industries that demonstrate monopoly, monopolistic competition, oligopoly, and perfect competitio
When it works, government "industrial policy" that funnels critical capital to just the right ventures and facilitates market coordination-in contrast to usually messy market compe
how can I show the supply and demand of internet hubs?
How can trade agreements assist development? A trade agreement is while two or more countries to by decrease or abolish tariffs, non-trade and quotas barriers which are establ
Question 1: (a) "Money demand is inversely related to interest rates and is stable over time." Discuss the theoretical and empirical validity of this statement. (i) Analyse
Is there an optimum population size for a country? Optimum (best) population arises while productivity that is output per person is highest. • An under-populated country ca
A1. Given the following production function Level of fertilizer Level of maize 0 0 1 44.9 2 83.6 3 110.1 4 127.3 5 136.9 6 139.9 7 137.1 8 129.2 a) Calculate the APP, MPP and elas
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