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QUESTION 1 i) Distinguish between the different kinds of concentration measures ii) Briefly describe the axioms of Hannah and Kay (1977) iii) Derive and explain the Dorfm
How can external trade promote economic development and growth? International trade permits increased specialisation than higher output permits economies of scale. • A big m
Why are markets considered as unsuitable for promoting development? The process of establishing a market system frequently includes radical reform which produces both winners
QUESTION (a) Explain the Law of demand and the factors affecting demand for a product or service. (b) Explain and illustrate diagrammatically how the market demand for a pro
What is Balanced Growth theory? Balanced Growth theory: This theory argues that market is not capable to deliver growth. State approaches to development are needed since
What is the difference between wealth and income? Difference between wealth and income: • Wealth , which is a stock value that is the current value of assets for example b
the basic assumption of the static model
What are the major area of decision making ? How does economic theory contribute to managerial decision ?
MC=25+30Q-9Q^2 fixed cost=55 find total cost avarage cost variable cost
i want information about the theory of supply
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