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Question 1:
i) Use a simple human capital model to explain the rationale for undertaking higher education.
ii) Why do some people vary significantly in the amounts of human capital which they acquire? For instance, why is Jack a high school dropout, Sam a high school graduate and Richard a Ph.D?
Question 2:
Write short notes on any three of the following.
i) The structure-conduct-performance (SCP) paradigm ii) Harberger's (1954) welfare loss estimates iii) Hannah and Kay (1977) axioms iv) Female participation rates
Economic Reforms and Foreign Investment Inflows: A major objective of economic reforms was to increase foreign investment, which helps to increase capital formation of the eco
Cost Push or Supply Inflation: It is a situation where the process of increasing price level is caused by increasing costs of production which push up prices. Cost push infla
Dynamic Changes in Costs: The Learning Curve
(a) Suppose Scientists discover that eating soybeans prevents cancer and heart disease.
explain diagrammatically the bains model of limit pricing.
What is a negative externality?
Perceived Value Pricing This refers to a pricing strategy that dictates that the price of a given item will be set based on the customer's perception of the value of that item
what is The most important source of oligopoly?
Consumer Surplus -Difference between maximum amounts a consumer is wishing to pay for a good and amount actually paid. The stepladder demand curve is converted into a
Mrs Holt, 85 years old, has been admitted to acute care following a fall resulting in a fractured femur. She is a widow and lives alone with her three cats for company. a) What
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