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QUESTION ONE
Analyse and discuss five (5) factors that affect price elasticity of demand. Use examples to motivate your answer.
QUESTION TWO
Examine and explain the kinked demand curve theory of oligopoly. Include in your answer criticisms of the theory.
QUESTION THREE
Explain, with the aid of diagrams, the economic impact on a firm if it discovers a more efficient technology for the production of its good or service. Use the cost curves and productcurves as the basis for your answer.
QUESTION FOUR
Discuss whether a perfectly competitive firm can engage in price discrimination. Substantiate your answer with the aid of diagrams.
This document contains various important questions and their appropriate answers in the subject field of Economics.
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