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Question 1 Explain the law of diminishing returns. What are its causes and effects?
Question 2 Compare perfect and imperfect markets
Question 3 A monopolist with a linear demand curve finds that it can sell two units at £ 120 each or 12 units at £ 20 each. Its fixed cost is £ 20 and its marginal cost is constant at £ 30 per unit
Question 4 Discuss Subsistence Theory and Wage Fund Theory of Wage Determination
Question 5 According to Bohm-Bawerk what are the reasons for the emergence of rate of interest?
Question 6 Discuss the short run and long run aggregate supply curves
explain how inflation could reduce the efficiency with which prices allocate resources.
Does aid improve development? Aid improves development as: • Aid is utilized to increase productive capacity and the advantages of resultant growth is extensively spread an
Australia has emerged from the Global Finance Crisis (GFC) as "the strongest economy in the developed world" (Editorial, The Australian, 11 December 2009). The economic editor of T
The reserve requirement is 20%. Assuming banks have no desire to hold excess reserves, calculate the money multiplier. Now assume the banks want to hold 20% of their reserves in ad
Why is the growth rate and significant for development? The rate of economic development is the percentage increase within real GDP over twelve months. • The higher rate of
Explain about the long-run economic growth. Long-Run Economic Growth: Secular or long-run growth is the continued upward trend into aggregate output per person over many
Persuading someone to buy is a complicated process. Why is it? Is the process inherently difficult, or is it since so many people are included? Persuading is an affecting skill
The Australian government administers two programs that affect the market for cigarettes. First, media campaigns and labelling requirements aimed at making public aware of the dan
There are three firms in an economy: A, B, and C. Firm A buys $450 worth of goods from firm B and $260 worth of goods from firm C, and produces 260 units of output, which it sells
characterestic of economics
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