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Question 1:
(a) Describe the three different ways of calculating national income.
(b) Does the National Income figure accurately reflect the living standardof a population? Discuss.
(c) Analyze the different causes of inflation in an economy.
Question 2:
(a) Analyze the characteristics of a monopoly market.
(b) Distinguish between the short and long run equilibrium of a monopoly.
(c) Compare and contrast between the equilibrium position of a monopoly with that of a perfectly competitive firm.
Total cost curve (TC) is obtained by adding up vertically total fixed cost and total variable cost curves because the total cost is sum of total fixed cost and total variable cost
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Production without capital is hard for us even to imagine. Nature cannot furnish goods and materials to man unless he has the tools and machinery for mining farming forestry fishin
Outline four limitation of game theory?
Mediterranean Regional Project (MRP) Technique This technique had been initially employed by the OECD (Organisation of Economic Cooperation and Development, Europe) to prepare
What aspects of amino acid structure are involved in the formation and stabilisation of beta-sheets in proteins?
Variability - The extent to which the possible outcomes of uncertain event may vary * Variability: A Scenario - Assume that you are choosing between two part time sales
REAL VERSUS NOMINAL PRICES • Nominal price is a complete or current dollar price of a good or service when it is sold. • Real price is the price related to a combined me
suppose the production function is given as:X=b0Lb1Kb2,where b0=level of technology find marginal product of factors(MPL0and MPK) find factor intensity
Employee Communication More widely called internal communications, employee communication is must in retaining a happy and productive workforce. Internal communications to e
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