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Question:
(a) As an advisor to government as well as that to a firm how will you make use of your knowledge on price elasticity of demand, income elasticity and cross price elasticity?
(b) Deadweight losses are associated only in the case of monopoly. Discuss.
(c) Distinguish among the various types of barriers that can exist under imperfect market structures.
(d) Oligopoly is always characterized by price stickyness, irrespective of whether it is a cooperative or competing one. Discuss.
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Joe is evaluating the marketing strategy at his restaurant and inn. Suppose that in response to a $2.00 off sales promotion for spaghetti dinners, Joe finds that nightly dinner sal
b) Discuss the validity in Zimbabwe of the grounds on which the profit maximising model of the firm has been defended.
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