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QUESTION
(a) Explain the Law of demand and the factors affecting demand for a product or service.
(b) Explain and illustrate diagrammatically how the market demand for a product will react if there is a tax imposed on the good.
(c) What you understand by Price Elasticity of Demand? Illustrate and explain with examples, price inelasticity and elasticity and how it helps in decision making at firm's level.
(d) Distinguish between a firm's fixed cost and variable cost and give examples.
What is a developing economy? To say a country is developed or developing needs indicators. For illustration: • The World Bank classification utilises one economic indicator
Changes frequently bedevil IS projects. What steps are needed to make sure that proper change control is exercised onto a project? An effective change control system involves t
Aska) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the c
Assume the marginal propensity to consume (MPC) is 0.9. Starting from equilibrium, investment demand enhances by 50. How much does equilibrium income enhance? Show the calcul
Consider the following model: Y*i= β 0 X t β 1e U t a) Using the stock adjustment model, estimate the short-run and long-run elasticities b) Comment on the following pr
what are the pricing policies
What is Conditionality? Conditionality is the needs imposed onto countries as pre-conditions for loans. Into crisis situations member countries seek assist from the IMF for
QUESTION Evaluate the roles and functions of the Bank of Mauritius in ensuring monetary stability in the economy. Explain Economic growth and its potential benefits to th
The Scenario You have just been appointed as the procurement consultant for a large multinational with operations based in Brisbane. Your superior, the Chief Financial Officer (
QUESTION (a) Define a public good and discuss how free riding might be a problem in the provision of a public good. (b) What is the rationale for government intervention in
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