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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
1. A monopolist faces the industry demand Q=400-0.5 p and has constant marginal costs of 8, with no fixed costs. a) What is the monopoly price? What is the monopoly quantity?
essay on Localization of Industries
Question 1: a) Explain, with the use of examples, what is meant by the ‘Factor Endowment Theory'. b) According to you, can the ‘Factor Endowment Theory' be a reasonable e
what is increaase libralisation?
analyse the method by which a firm can allocate the given advertising budget between different media of advertisement
Can comparative benefit change over time? Comparative benefit is a dynamic concept. A country can obtain or lose comparative advantage overtime when there is a change within r
example of an HMO with these types of set rates
Why not cancel all third world debt? Two arguments are advanced in opposition to debt cancellation. • Developed countries finance the World Bank which can use its funds to
Suppose that a company knows that on average, 30% of guests at a hotel will eat at the hotel restaurant. What is the probability that on a given night that at least 33% of the 160
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