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Question 1:
(a) Discuss the adjustment to an increase in demand for a perfectly competitive market in the:
(i) Short run (ii) Long run
(b) How would the same industry change if it were organized first as a competitive industry then by a multi-plant monopolist?
Question 2:
(a) Define, explain and illustrate the concept of opportunity cost?
(b) "Consumers and producers pay equal amount of a per-unit tax." Discuss
Why is it unusual for yields on longer term notes to be lower than yields on shorter term notes? 2pts b) Why would any investor buy the 2 year note (instead of the 1 year) given it
What is methodological economics? how its significance, Describe use of methodological economics...
Determine the profit maximizing price and quantity A firm has segmented its market into the following demand functions: P1 = 500 – 50Q P2 = 500 – 20Q with a cost fu
mang ki loch kya hai
Non-Tradable:Some products can't be transported over long distances or otherwise sold to consumers from far-off locations. These products (including some goods as well as most serv
steps for law of coservation of mass
Change in the price of a related good: Goods relate to each other in two ways. Goods are either complements or substitutes. Complementary goods are goods with joint demand. The
A government is currently operating with an annual budget deficit of $40 billion. The government has determined that: • Every $10 billion reduction in the amount of bonds it issue
Consider two hypothetical nations, Solowia and Growia, which are defeated in wars. These two nations were suffered from wars differently; the damage is on capital stock in Solowia,
Value Added:Value added in a particular stage of production equals value of total output, less the value of intermediate products (comprising raw materials, capital equipment and o
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