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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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Problem: (a) (i) Assuming that a household uses a subjective discount rate of 10%, calculate the amount that she must spend on consumption per annum during her years of existe
Demand for money The demand for money is a more difficult concept than the demand for goods and services. It refers to the desire to hold one's assets as money rather tha
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