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QUESTION 1
(a) Explain the relationship between scarcity, choice and opportunity cost.
(b) How is choice about the use of scarce resources made in a market economy?
QUESTION 2
(a) Briefly explain, what is meant by
(i) Price Elasticity of Demand
(ii) Income Elasticity of Demand
(iii) Cross Elasticity of Demand
(b) "Consumers and producers pay equal amount of a per-unit tax." Discuss.
There are three industrial firms in a quaint town of South Orange where the municipal government wants to reduce pollution to 120 units from uncontrolled level of 210 units. Three
Scenario: A client comes to you for investment advice on his $500,000 winnings from the lottery. He has been offered the following options by three different financial institutions
You are evaluating a project in the country of Expropriationstan. You estimate end-of-year cash flows as follows. Assume your discount rate for evaluating projects of this sort in
what are the types of technical economies?
law of diminishing marginal utility assignment
QUESTION (a) Explain and evaluate the rational expectations theory. (b) What is the major argument of the supply side economists in relation to taxation policy? How is it di
describe production function for computers
#question."ledger is said to be the principle book of entry and the transaction can be even be directly entered into the ledger account."Elaborate on the statement
Is there a consensus view on the responsibility of government? Highly controversial and depends onto your view like to whether markets work. International agencies as like the
Changes frequently bedevil IS projects. What steps are needed to make sure that proper change control is exercised onto a project? An effective change control system involves t
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