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QUESTION 1
i) Distinguish between the different kinds of concentration measures
ii) Briefly describe the axioms of Hannah and Kay (1977)
iii) Derive and explain the Dorfman and Steiner (1954) condition for optimal advertising
QUESTION 2
i) What are the different stages of economic growth?
ii) What are the major causes of deindustrialization?
iii) Is there a stable link between inflation and unemployment in the long-run?
QUESTION (a) What are the characteristics of command and market economies? (b) In a number of countries in recent years, there has been a movement towards a greater reliance
1. How would you describe a market economy? 2. What distinguishes a market economy from a command economy? 3. Is there a role for government intervention in the Australian econ
QUESTION a) State and explain the assumptions of a perfectly competitive market. b) Analyse the effects on the firm's profit and output of an increase in demand in the short
What is a firm
the markert is said to be an invisible hand in the economic system , how
QUESTION On a dark day, a train carrying more than 25 propane tankers derailed and began to burn. Upon arrival at the scene and conducting an initial size-up, the incident comm
Write a book review of a book of your choice (chosen from the list of course reference literature) by either Joseph A. Schumpeter or Israel Kirzner about entrepreneurship and macro
what is social 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 (a) (i) Define the velocity of circulation of money. (ii) By comparing the Fischer's Quantity Theory of money and Keyne's Liquidity Preference Framework, explain cl
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