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QUESTION
(a) With reference to price elasticity of demand, discuss and illustrate the effects on government revenue of increasing value added tax on goods and services.
(b) What are the factors affecting price elasticity of demand for tourism in Mauritius?
(c) Using appropriate examples, explain the terms public and merit goods.
(d) Explain, with the help of relevant examples, the relationship between private, external and social costs and benefits.
what is social cost
Suppose that historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 48%. Over the previous 6 months, in a sample of 115 new-
MC=25+30Q-9Q^2 fixed cost=55 find total cost avarage cost variable cost
1. A monopolist faces the industry demand Q=400-0.5 p and has constant marginal costs of 8, with no fixed costs. a) What is the monopoly price? What is the monopoly quantity?
Ask question different between Marginalism & incrementalism #Minimum 100 words accepted#
What is the Infant Industry argument? Several governments seek to protect involving industries by premature competition. Infant industries have potential comparative benefit b
What are factor endowment implications? Implications of factor endowment: • Less Developed Countries to specialise and export labour intensive goods, agriculture or commodit
What are the predictions of Lewis? For Lewis, Harrod Domar is right to emphasise the task of savings and investment although structural change and a new industrial sector are
interaction between the two market force, demand and supply
Why is not Aid improving development? Aid not improves development because: • Aid is spent on current consumption • It is spent on unsuitable capital as opposed to suitab
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