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Star Petroleum and Moonlight Petroleum are retail petrol stations that compete in the local market to sell petrol to consumers. Star and Moonlight are located across the street fro
1. A monopolist faces the industry demand Q=400-0.5 p and has constant marginal costs of 8, with no fixed costs. a) What is the monopoly price? What is the monopoly quantity?
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QUESTION 1 (a) Illustrate the main causes of inflation in Mauritius. (b) Critically analyse the costs of inflation. Which of these items is likely to have encouraged the Mau
Mercantilism was the economic philosophy underlying English colonial policy. The object of mercantilism was to enhance the wealth of the Mother County (Great Britain) in gold & sil
How can the size of shadow economy estimated? The size of the shadow economy is estimated when activity is undeclared as the amount of informal activity can be calculated: a
what are the abstracting and indexing services in social science?
Explain about the term Traditional Economy. Traditional economy: It is where decisions regarding what, how and for whom to produce are based onto tradition and custom. A
QUESTION (a) Explain the relationship between scarcity, choice and opportunity cost. (b) Distinguish between centrally planned, laissez-faire and mixed economic systems rega
How can be comparative advantage improved? Comparative advantage can be gained or improved through: • Investment during the education and also in training • Investment wi
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