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QUESTION
a) Differentiate between returns to factor and returns to scale.
b) In the long-run the Average Cost Curve is u-shaped. Discuss
c) Whenever a firm is making losses it should close down. Do you agree with this statement? You may use mathematical examples to illustrate your answer.
d) Discuss how resource allocation is dictated by consumers' preferences in the market place.
Explain why Caerphilly are considering this model of service provision Examine the costs and benefits of joining the shared service model. Your answer should cons
QUESTION (a) Distinguish between monetary and fiscal policy, giving examples where appropriate. (b) Discuss how fiscal and monetary policies might be used by a government du
QUESTION (a) Discuss whether international trade between countries is always beneficial. (b) What are the economic reasons for protectionism? (c) Does the National Income
What factory overhead expenses are involved?
VARIOUS DEFINITIONS OF UNEMPLOYMENT
Change in Currency Rate Change in the sterling currency rate has also great consequences because it depends upon the sterling currency rate to the other countries as well. As
the basic assumption of the static model
Your student union has decided to support a local charity by fund-raising on a Rag Day to be held in the town. Key events include a fancy dress relay race with teams sponsored by l
What are Harrod-Domar assumptions? The H-D (Harrod-Domar) model assumes as: • Fixed capital output ratio. Nonetheless, diminishing marginal returns to capital element exist
what makes other individuals save more than others
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