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(a) Using the basic concept of price elasticity of demand for his product, describe how the producer may raise his total revenue. (b) With reference to an initial set of marke
QUESTION (a) Explain what factors might determine the level of investment in an economy. (b) ‘If investment increases it will cause an increase in income. If income increase
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
Difference between gross barter and net barter terms
Consider a Cournot duopoly. The market demand is p=190-q1-q2. Firm 1's marginal cost is 40, and firm 2's marginal cost is also 40. There are no fixed costs. A. Derive every fir
Use short notes and illustrations to answer the following questions: i) Distinguish between an indifference curve and an isoquant ii) Distinguish between substitution and inc
Why are state approaches occasionally considered as unsuitable for promoting development? Liberal economists’ argument government intervention really thwarts development. G
Explain the concept of scarcity, and the role it plays in decision making
How less developed countries cannot economies grow by developing services as tourism? Less developed countries cannot economies grow by developing services as tourism if: Ga
What is the development gap? The development gap refers to the divergence between standards of living in the developed and developing world. As like Source World Bank:
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