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What are the assumptions of Lewis?
LDCs (Less Developed Countries) have two (dual) economies as:
• Rural traditional economic and social practices, which overpopulated, subsistence along with zero marginal labour productivity
• Urban: modern economic and social practices, along with high marginal labour productivity.
Why might the point at which the long-run average cost curve levels out change over long periods of time? include a diagram.
Why are countries that let people respond to the inborn profit motive better off than those countries that do not?
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price elasticity of demand for luxury goods in india
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
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