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Question 1:
(a) Discuss the adjustment to an increase in demand for a perfectly competitive market in the:
(i) Short run (ii) Long run
(b) How would the same industry change if it were organized first as a competitive industry then by a multi-plant monopolist?
Question 2:
(a) Define, explain and illustrate the concept of opportunity cost?
(b) "Consumers and producers pay equal amount of a per-unit tax." Discuss
the prevention of major swings in economic activity cn be handled most easily by the financial or government sector?
Arc Elasticity of Demand - Arc elasticity calculates elasticity over the range of prices - The formula of it is: * Arc Elasticity of Demand: An Example
Syndicated and organized oligopoly
My current car gets 10 miles to the gallon and no resale value, but it will last 5 years for sure. I can always buy a new car for 8000 dollars that gets 20 miles to the gallon. A g
cars:0,2,4,6,8 tow truck:30,27,21,12,0
How to solve economics assignment help?
Model in economics is the permanent income hypothesis, which basically states that a household''s expenditures will not react to a change in income unless that change in income is
if a commodity has limited demand , should economist say that we still have a scarcity ?
When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3.
The following are AC and TC functions for various firms (i). AC = 140/Q + 20 (ii) AC - a/Q = k (iii) TC - 10 =2Q + 0.1Q 2 (iv) TC - k - βQ = cQ 2 Where a, k, β and
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