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Question:
Using diagrams where appropriate, describe the concepts of scarcity, choice and opportunity cost.
Distinguish between negative and positive externalities, explain your arguments with appropriate examples where necessary.
Describe the concept of economies of scale and discuss the different sources of economies of scale.
Using demand and supply analysis, illustrate the influence of the imposition of a maximum price and a minimum price on a product on price and quantity.
Ask question #Minimum 100 words accepWith aid of evidence in the given article, comprehensively discuss the market structure in the South African mobile telecommunications industry
Determine the present worth of a geometric gradient series with a cash flow of $50,000 in year 1 and increases of 6% each year through year 8. The interest rate is 10% per year.
which turning point marks the end of an economic prosperity and the start pf contraction
The economy of Macroland has a balanced budget with fixed government expenditures G = 150 and T = 150. Investment is autonomous: I = 200. The consumption function is the foll
Rate of Growth Every country desires economic growth. A country's economic performance is often judged on the basis of - among other things - the rates of growth it has manage
#C=100+0.8yd G=100 T=0.25y X=150 M=0.25yd 1) What is the level of equilibrium national income? 2) Estimate the budget surplus or deficit at the equilibrium national income. 3) Deri
Suppose you are the production manager for Widgets, Inc. Your job is to produce a fixed amount of output at the lowest cost possible. When you take over the position, you find that
Describe dynamic multiplier
Unemployment classification Economists sometimes differentiate between different types of unemployment. There are many type of ways of classifying unemployment however the foll
The annual income from an apartment complex is $20,664. The annual expense is estimated to be $3,414. The apartment complex could be sold for $146,499 at the end of 10 years. If yo
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