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Problem 1:
i) Differentiate between the short and the long run.
ii) How is production characterised the short run? Explain the fully using numerical and diagrammatic illustrations.
iii) Using examples explain the concepts of economies and diseconomies of scale?
Problem 2:
i) Differentiate between price, income and cross elasticities of demand for a product.
ii) Explain carefully, using numerical and graphical examples how knowledge of price elasticity of demand might help a manager to increase or decrease price. Illustrate your answer by the use numerical examples.
what is chemical analysis of iron ?
limitations
The Market Mechanism Features of the equilibrium or market clearing price: – QD = QS – No shortage or scarcity – No extra supply price. – No pressure on th
how slustky equation provides neat analytical expression for substitution and income effect?
ADVANTAGES AND DIS ADVANTAGES OF MONOPSONY
Q. Describe about Capitalism? Capitalism: An economic system in that privately-owned businesses and companies undertake most economic activity (with the goal of generating priv
#qu3. An industry is composed of 20 firms, all with equal sales. The Herfendahl Index ratio in this industry is a. 1000 b. 500 c. 800 d. This cannot be determined from the informat
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
the price of a laptop increases by 20% and there is a 40% drop in the quantity demanded
all the problems involved in measurement of profit
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