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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?
Explain the discounting principle. Using the discounting principle calculate the present value of an annuity of five years at Rs. 500 payments made at the end of each of the next f
what are the economic problems facing any individual in the economy
Suppose a monopolist produces at constant marginal cost and is able to discriminate between two groups of consumers. The demand in each group is linear. Would the monopolist discri
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What are the import substitution policies? Import substitution policies are as follows: Need trade restrictions for example, tariffs and quotas to defend infant industr
How do economists differ from accountants in the use of the term profit ? Definition of rev and accounting costs Explanation/outline of opportunity costs, for example
What is social exclusion? Social Exclusion: Social exclusion arises while people are denied access to goods opportunities taken as normal in a society. In several develo
What is the fixed cost
What are the disadvantages of a informal economy?
What is the Washington Consensus? The Washington Consensus is a set of polices arguments advocated through free market economists to motivate growth and it is at the heart of
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