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QUESTION (a) One of the differences between a monopolistically competitive industry and a perfectly competitive one is that in the former, there is product differentiation. (i)
What are the differences among developing economies? Developing countries are diverse. They can be different in terms of as: • Resource Endowment for example, a country is
There are three firms in an economy: A, B, and C. Firm A buys $450 worth of goods from firm B and $260 worth of goods from firm C, and produces 260 units of output, which it sells
QUESTION 1 (a) Suppose the government decides to implement a minimum wage to help low-income workers. How will the minimum wage affect the demand for labor and what does this i
Find quantity supplied and quantity demanded: Suppose there are 300 used cars, with 3 quality levels: bad, medium, and good. A seller knows the quality of his car but a buyer
(a) Name three types of government interventions and 3 economic factors affecting the business environment and with given example explain how these affect the business environment.
Ask question critically evaluate the two main utility theories #Minimum 100 words accepted#
explain four major managerial factors that affect diseconomies of scale
QUESTION a) State and explain the assumptions of a perfectly competitive market. b) Analyse the effects on the firm's profit and output of an increase in demand in the short
Explain foreign direct investment: 1. Identify and briefly explain three costs of foreign direct investment (FDI) for a country such as China (the home country) and two benef
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