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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
Staff time is generally the principal cost component of an IS project. Define five other areas where project costs could increase. Project costs also occur by: • Contract la
What are colonial background countries of the development process? A colony is a country controlled by other. Various European countries had extensive empires as: • Latin
The word of Keynesian -styles A Keynesian come about the rules creators on purpose look for to motivate additional than one of the modules of aggregate demand to improvement numbe
Can comparative benefit change over time? Comparative benefit is a dynamic concept. A country can obtain or lose comparative advantage overtime when there is a change within r
How does culture influence the development process? Culture influences what is of value into a society and affects how individuals, communities and organisations react to modi
How can franchises ensure their products are appropriate for international markets?
QUESTION (a) Explain what factors might determine the level of investment in an economy. (b) ‘If investment increases it will cause an increase in income. If income increase
In a model where a continuum of individuals have preferences for consumption and leisure as follows w i = c i + ln(x i ) and individuals differ in their labour endowments e
Distribution of benefits for transferring drivers to transit during a congested morning commute A residential suburb has N = 30,000 commuters who drive alone to jobs in a cen
Question: There are currently some 421 Regional Trade Agreements (RTAs) around the world. These RTAs normally provide preferential treatment to member countries, which is again
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