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Question 1:
(a) Clearly illustrate the features of a perfectly competitive firm.
(b) How would the same industry change if it were organized first as a competitive industry then by a multi-plant monopolist?
Question 2:
Given two goods X and Y, assuming Y is a normal good, analyse the income and substitution effect of an increase in price of X if
(i) X is a normal good (ii) X is an inferior good (iii) X is a giffen good
Question 3:
Write short notes on any ALL of the following (a) Barriers to entry (b) The Kinked Demand Curve (c) Average Cost and Marginal Cost (d) Strategic Entry Deterrence (e) The Prisoners Dilemma
Calculating Variance (σ) The standard deviations of the 2 jobs are: The standard deviation is used when there are several outcomes instead of only two. * An Examp
subsitution effect dominate tha income effect in which good case?
Why demand curve is always negative and write its effects.
Ask questioThe difference between the present value of cash inflows and the present value of cash outflows over a period of time is termed as Net Present Value. This is used for th
how can draw the table and diagram of production function function with one veriable
GROWTH OF REGIONAL FINANCIAL INSTITUTIONS: We find many levels of groupings of nations in the international arena. Groups of countries that share borders often have semi-perma
The process of production needs several inputs. These inputs are known as the factors of production. In most cases, firms own some of the factors of production while some have to b
Expected Value - The weighted average of payoffs or values resulting from all the possible outcomes. The probabilities of every outcome are used as weights Expected
The average price level has increased at a relatively rapid rate since 2008 even though the deep recession that UK experienced in 2008/09. The growth in the price level has been dr
What is the role of profits in a market economy? Profits act as an incentive to producers and potential entrepreneurs, and also as a signal to both that resources may be re-al
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