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Problem-solving question: Use the following data for a firm’s output at various levels of employment (L) to calculate: a) its marginal physical product of labor (MPPL) schedule; (
1500 word essay
Question 1: Write short notes on any FOUR of the following: (equal marks each) (a) Law of diminishing returns (b) Barriers to entry (c) Consumption Function (d) Devaluati
business environment
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How can be comparative advantage improved? Comparative advantage can be gained or improved through: • Investment during the education and also in training • Investment wi
Explain the concept of scarcity, and the role it plays in decision making
Evaluation of perfect competition arguing the effect on stakeholders, priorities and SR/LR
What are the requirements of national figure to adjusting? National figures first require adjusting: • For population: Dividing Gross Domestic Product (GDP) by total populat
What is dual economy and development in an economy? Development in an economy: Differentiated or uneven development arises while the benefits of growth are not shared ev
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