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The average amount of debt families have is 2.5 times their annual income with a standard deviation 0.75 times their annual income. How much debt does a family have to have (relati
explain why each of the following factors influence the own price elasticity of demand for a comodity 1. Consumer preferences 2. the narrowness of definiton of the commodity
What are factor endowment implications? Implications of factor endowment: • Less Developed Countries to specialise and export labour intensive goods, agriculture or commodit
What is the argument of advocates of World Bank in promotion of development? Advocates of the World Bank argue: • Loans and aid alone don’t guarantee development or the
WHAT IS OPPOTUNITY COST?
XYZ is a company that produces a variety of medical appliances for hospital and home use. It has experienced a steady demand for its products, which are highly regarded in the heal
QUESTION 1 (a) Explain the concept price discrimination? (b) Discuss the views that price discrimination always operates in the public interest. QUESTION 2 (a) Descr
optimal use of variable input
Why are the terms of trade deteriorating for Less Developed Countries? Problem: The substantial decline within real commodity prices and the deterioration into the terms of
How does Structural Adjustment Programmes/Poverty Reduction Strategies assist development? Structural Adjustment Programmes (SAPs) /Poverty Reduction Strategies (PRS) are an ef
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