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1. A firm has segmented its market into the following demand functions: P1 = 500 – 50Q P2 = 500 – 20Q with a cost function: MC=AC =20 a. Determine the prof
QUESTION (a) Using diagrams where appropriate, explain the concepts of scarcity, choice and opportunity cost. (b) Distinguish between positive and negative externalities, il
Is migration a problem? Huge scale rural-to-urban migration places a strain onto city economic systems. As like some examples of: • There is inadequate demand for labour to
What are factor endowment implications? Implications of factor endowment: • Less Developed Countries to specialise and export labour intensive goods, agriculture or commodit
QUESTION (a) What are the characteristics of command and market economies? (b) In a number of countries in recent years, there has been a movement towards a greater reliance
Why do you assume there are an increasing number of organisations related along with the development of quality practices for IS development? Information systems frequently rep
the markert is said to be an invisible hand in the economic system , how
What is Rostowís model? Rostowís Stages of Growth model argues to attain modernity all countries pass through similar stages of development as explained as follows: a. Sta
Evaluation of perfect competition arguing the effect on stakeholders, priorities and SR/LR
don''t tell, demonstrate statements
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