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QUESTION
(a) Explain the relationship between scarcity, choice and opportunity cost.
(b) Distinguish between centrally planned, laissez-faire and mixed economic systems regarding the resource allocation problem.
(c) According to you which of the above three economic systems is the best? Justify your answer.
1. A firm has segmented its market into the following demand functions: P1 = 500 – 50Q P2 = 500 – 20Q with a cost function: MC=AC =20 a. Determine the prof
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you are appointed secretary of the treasury of recently indepent country called rugaria
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impact of economic policies on decision of any organisation
EVALUATING THE IMPLICATION OF IMPLIMENTING PRODUCT MIX FOR FREIGHT RAILWAYS
Explain, using the example of museum visits, own price, cross-price and income elasticity of demand; consider own price elasticity for various demographic groups. Use diagrams wher
The framework for the assignment should be relevant to the websites you have chosen and should consider one or two of the following: Segmentation methods to meet the needs of
Are international capital flows a problem? Problem: Capital flows can have an adverse outcome onto: a. Balance of payments (BoP): Shortly term capital inflows can be like:
visit to village panchayat for agriculture based project
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