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QUESTION
a) State and explain the assumptions of a perfectly competitive market.
b) Analyse the effects on the firm's profit and output of an increase in demand in the short run and long run.
c) Explain with the use of appropriate diagrams the extent to which the existence of barriers to entry can make long-run equilibrium for a firm, operating under monopolistic competition, differ from that of a perfectly competitive firm.
Why is the growth rate and significant for development? The rate of economic development is the percentage increase within real GDP over twelve months. • The higher rate of
Why are economies developed of less developed countries by growing its secondary sector? Economies cannot grow of less developed countries by developing its secondary sector si
What are the restrictions of Lewis? The restrictions of Lewis: • Assumes complete employment in urban regions. Evidence recommend otherwise • Raised profits may be inves
Define how quality control can be applied to a subcontractor’s work. Quality control of a subcontractor’s work begins along with a clear, detailed and precise requirement of th
DEVELOPMENT THROUGH RESOURCE TRANSFER is explained below The chief idea here was that (as mentioned previous) poor countries suffered from the savings and foreign exchange gaps
Consider the following information in the international money markets: Spot rate : $0.95:€ Forward rate (one year) :
The amount of a good or service that a consumer is willing and able to buy at each particular price
How do we identify if an institution or development policy works? Institutions and policies have goals. Successful policies and institutions meet stated objectives in a specif
1.Randy Johnson made a decision to foryo college to worki in the family business/How sure was he that was his right thing to do to work for family? 2 Hal began discussing about
What is meant by the term the triple constraint? What are the three elements of the triple constraint and why is an understanding of their relative weight significant in exercising
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