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Question:
i) Explain the main problems with government intervention.
ii) Why and how do governments seek to control monopolies?
iii) A country should specialise in the production of the good in which it has the lowest opportunity cost. Discuss.
Explain how diminishing returns differ from diminishing returns to scale. The answer should clearly distinguish among SR (one or more factors are fixed) and LR (where all facto
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assume you are selling a product and when your price is decreased by 29% your quantity demanded increases by 55%. What is your price elasticity of demand?
when the demand function is 2q-24+3p=0,find marginal revenue when q=3
Learning curve implies: 1) The requirement of labor falls per unit. 2) Costs will be high at 1 st and then will fall with learning. 3) After eight years the labor requ
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Determinants of Private Demand - Ability to Pay In a developing country like India, of all the factors determining investments in education, the most important factor is the ‘
What is Modern Economics? Modern Economics: Modern economics mostly developed within last sixty years, methodically studies individuals’ economic behavior as well as econo
if coast of good A fall by Rs.1 & coast of good B increases by 1 Rs. what will be the effect on budget line
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