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Problem 1:
a. Describe the term ‘inflation' and explain the relationship between money supply and inflation.
b. Describe the conditions and processes that are associated with the following types of inflation:
(i) Demand-pull; and (ii) Cost-push.
Problem 2:
a. What are the main reasons why a government might seeks to control a monopoly firm's profit?
b. Draw a diagram to compare long run output decisions for a monopolist and a perfectly competitive firm.
c. Describe why in some ways monopolies can be good for an economy.
In November 2010, every Mzumbe University student had an income of 150000/= per month,facing the price of meal (X) 1000/= and average price of other goods (Y) 1000/=.The initial ut
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John has a utility function given by U(M) = M0.5, where M represents an amount of cash prize in a game. If John wins, with the probability of 0.2, he will get $900; otherwise, he g
Boltzmann Distribution: In most cases of interest of chemistry the particles adopt the Boltzmann distribution. Qualitative considerations: the general expression for W given by eq
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There are various implications of the monopoly model; many of which lead to criticisms of monopoly on issues of both technical /allocative efficiency. The prices and output verifi
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