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Consider the economy (above) again where the following set of stocks is traded: x 1 =(2,2,0) x 2 =(1,0,3) x 3 =(0,2,4) for the prices (p 1 , p 2 , p 3 )=(1, 1, 1).
What are the assumptions of dependency theory? The assumptions of dependency theory: Dependency theory extends Marx is theory of surplus value to international relationship
Is agricultural price instability a problem for Less Developed Countries? Problem of agricultural price instability for LDCs: a. Several Less Developed Countries have a com
What is meant by the term value tree? Value Tree: A value tree gradually decomposes the overall objectives of a project within more exact objectives which can be agreed through
Assume the marginal propensity to consume (MPC) is 0.9. Starting from equilibrium, investment demand enhances by 50. How much does equilibrium income enhance? Show the calcul
Question: a) Distinguish between the orthodox and the heterodox perspectives for implementing Intellectual Property Rights (IPRs). b) Patenting has been subject to much co
what are the resources of economics development
Consider a Bertrand duopoly. The market demand is q=190-p. Consumers only buy from the firm whose price is lower. If two firms charge the similar price, they share the market equal
What are the Economies at Different Stages of Development? Economies at Different Stages of Development: • LDCs (Less Developed Countries) share common features but all one
Explain the mixed economy system. Mixed economy: Several resources are owned through the public sector (government) and several resources are owned through the private sector o
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