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QUESTION
a) Differentiate between returns to factor and returns to scale.
b) In the long-run the Average Cost Curve is u-shaped. Discuss
c) Whenever a firm is making losses it should close down. Do you agree with this statement? You may use mathematical examples to illustrate your answer.
d) Discuss how resource allocation is dictated by consumers' preferences in the market place.
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: (a) State whether the following statements are TRUE or FALSE. Justify briefly your answer. (i) Money is the most liquid medium to store value. (ii) An increa
Flexible exchange rate system: A country is linked to other countries through two broad channels: trade flows andfinancial flows. Trade flows pertain to movement of goods and
How does macro-economic stabilisation assist growth? Economic agents as the consumers, private zone and overseas investors as like multi nationals make decisions based onto co
What is suitable technology? Technology is suitable when this employs methods which make the best use of accessible resources that is labour-intensive, straightforward techniqu
What kind of project management would you require to deliver to have people volunteer to work on your projects? The leadership challenge is to suppose that everyone working ont
What is social inclusion? Social Inclusion: Social inclusion implies the whole of society enjoys the advantages of economic activity (as income) and have complete access
how managerial economics is applied in a firm?
What is poor governance? In countries along with poor governance: • The rule of law has not working for example civil war and areas run by war lord • Bribery and corrupti
What is Employment and Unemployment? Employment and Unemployment: Employment: It is the number of people working within the economy. Unemployment: It is the nu
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