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Problem 1:
i) It has often been argued that a monopoly has both costs and benefits. Discuss.
ii) Explain, using diagram the short and long equilibrium positions of a monopoly firm.
iii) Using examples, explain how a monopoly imposes barriers to prevent competition.
Problem 2:
i) Explain the concept of circular flow of income.
ii) Comment on the view that ‘GDP is not the best measure to evaluate economic growth and standard of living. Real GDP per capita is a better measure'.
iii) What is economic growth? Identify and comment briefly on the possible contributors to economic growth.
Using a diagram explain the equilibrium point of a monopoly
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Let Consider the following insurance market. There are two states of the world, B and G , and two types of consumers, H and L, who have probabilities p H =0.5 and p L
causes of market failure and its solutions?
THEORY OF CONSUMER BEHAVIOR: It is generally observed that market aggregate demand curve for a commodity is downward sloping, given other things. Our problem is to investigate
who proposed the law of chemical combinations?
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assignment
there are 1 million hours of labor available for making cars in the north, and another 1 million hours of labor available for making cars in the south. in a no-trade world, let''s
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