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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 rural and urban sectors? Rural and urban sectors: • Rural sector consider as countryside. 60 to 70 percent of LDC (Less Developed County) population live into r
Explain the state intervention approaches for promoting development. State intervention can result within: • Large bureaucracies staffed through friends and relatives of the
What are the characteristics of growth in developed countries? Simon Kuznets specified some characteristics for all DCs (developed countries) as illustrated below: • Gross
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
What is the rational for the optimal use of a variable input?
Describe the terms inflation, deflation, and inflation rate and price stability. Inflation and Deflation: a. An increasing aggregate price level is called as inflation.
In AS/AD model monetary polices is seen to working primly through its effect on interest rate. There are some example to understand to interest policy impact on exchange rate an
How can Maslow and Hertzberg’s Herzberg theories of inspiration assist you to categorize your project team and the way work is assigned? We must suppose that working in an IS p
How do economists differ from accountants in the use of the term profit ? Definition of rev and accounting costs Explanation/outline of opportunity costs, for example
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