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1. A firm has segmented its market into the following demand functions: P1 = 500 – 50Q P2 = 500 – 20Q with a cost function: MC=AC =20 a. Determine the prof
What are the assumptions of Lewis? LDCs (Less Developed Countries) have two (dual) economies as: • Rural traditional economic and social practices, which overpopulated, s
Mercantilism was the economic philosophy underlying English colonial policy. The object of mercantilism was to enhance the wealth of the Mother County (Great Britain) in gold & sil
How is the informal sector, urban modern sectors connected? Several urban regions into developing countries are dualistic as: current formal activity exists side by side along
Think of circumstances at home, at work, at university or into a club to which you belong. This is a situation which involves you. You want to modify the present circumstances and
What are the major area of decision making ? How does economic theory contribute to managerial decision ?
If nominal GNP enhances at a rate of 10 per cent per year whereas the GNP deflator enhances at 8 per cent per year then show how much real GNP rises. Explain?
QUESTION (a) Analyze the characteristics of a monopoly market. (b) Distinguish between the short and long run equilibrium of a monopoly. (c) Compare and contrast between
Explain how getting right price affected the market for promoting development. Getting prices right implies: • Abolishing price controls as well as subsides on fundamentals.
the basic assumption of the static model
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