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(Price Discrimination) A. Indicate the types of price discrimination for the cases below. Based on the above examples, explain the difference among these types of price discrimi
What is factor endowment problem? Factor endowment Problem: Several LDCs have a poor factor endowment than productivity and incomes both are very low according to world
What are the restrictions of Lewis? The restrictions of Lewis: • Assumes complete employment in urban regions. Evidence recommend otherwise • Raised profits may be inves
What are the characteristics of the informal sector? The characteristics of the informal sector comprise: • working for yourself quite than an employer, • Small scale ent
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 does sectoral change enhance development? The Lewis Model argues economic growth needs structural change into the economy whereby surplus labour into traditional agricultu
First, explain the concepts of income, wealth and money and show how each is related to the other. Next, explain the concept of the monetary base and indicate its economic signific
Problem 1: (i) Assuming a Cournot duopoly where the market demand is estimated as: P = 100 - Q The marginal cost is estimated to be constant at Rs. 10 for the two fir
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the markert is said to be an invisible hand in the economic system , how
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