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purely competitive firms increase total revenue by
what factors deter the sale of a product
In a model where a continuum of individuals have preferences for consumption and leisure as follows w i = c i + ln(x i ) and individuals differ in their labour endowments e
What are the advantages of informal economy? Advantages of the informal sector: • Employment, opportunities and income. • Offers cheap inputs for the formal sector •
Can national income figures be used to make comparisons of standard of living among countries? National income measures the Gross Domestic Product of country and therefore can
Question 1: ‘The WTO was set up with the intention of regulating international trade between countries'. How successful has the WTO been in attaining its objectives? Questi
what is it?
Is population growth a problem? Quick population growth is a main cause of poverty and arises where population growth go beyond the rate of economic growth. Standards of liv
Quantitative demand for watermelons = 50-3P(wm) - 20P(hd) + 10 P(sc) + 0.001(income) P(wm) = $4.00 P(hd) = $3.00 P(sc) = $2.00 Income = $40,000 Quantity supply of watermelons = 2
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