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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
Capital gains and losses are regarded as wind falls. Fluctuation in the stock market prices in one of the most common sources of the wind falls. In a progressive society accordin
There are two agents, A and B. Both have preferences represented by a von Neumann-Morgenstern utility function u(c s j ) = ln (c s j ), where c s j is consumption of agent j in
Why do state approaches work into promoting development? State planning and intervention is desirable due to the shortcomings of markets. The approaches range of state through
who is the proponent of theory of economic rhythm?
Assignment on discounting principle
QUESTION Explain the meaning of classical dichotomy, neutrality of money and Walras law. b. "In a Walrasian general equilibrium model with money as a unit of account, only r
What are the import substitution policies? Import substitution policies are as follows: Need trade restrictions for example, tariffs and quotas to defend infant industr
#discuss the theory of costs in relation to business operations.you should identify different types of costs and explain how the supply curve is constructed for an organisation?
Discuss the following in relation to China's market reforms: (1) the political and economic factors on the basis of which China decided to undertake market reforms; (2) how
There are three firms in an economy: A, B, and C. Firm A buys $450 worth of goods from firm B and $260 worth of goods from firm C, and produces 260 units of output, which it sells
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