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a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the comm
QUESTION 1 (a) Explain clearly the various sources of Industrial Law (b) The mutual consent of the contracting parties is required for a contract of employment to be valid, but
Question 1 (9 marks) During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets a
Managerial economics is the discipline which deals with application of "economic theory to business management" Discuss
Discuss about the free market economy in short. Free market economy: Households own resources and markets assign resources throughout the price mechanism. An increase wi
What are Harrod-Domar assumptions? The H-D (Harrod-Domar) model assumes as: • Fixed capital output ratio. Nonetheless, diminishing marginal returns to capital element exist
In the model with utilities W i = c i + α ln(x i ) where individuals are endowed with ability levels w p m R and form fractions π p , π m , π r with π m > π p , π r
How would you assess the significance of sales skills to a project manager? Are they, increasing or decreasing in your view, significance? Why do you think there is this change occ
Illustrate liberalise or open up trade in market for promoting development? Liberalise or open up trade implies that: • Abandoning fixed exchange rates and elimination of re
You should use a variety of other methods of capital cost estimation to check and refine your estimate to give a definitive capital cost for the plant. You will need to compare the
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