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What are the restrictions of Lewis?
The restrictions of Lewis:
• Assumes complete employment in urban regions. Evidence recommend otherwise
• Raised profits may be invested into labour saving capital quite than taking on newly arrived employees
• For many LDCs (Less Developed Countries), rural urban migration levels have been far larger than the formal industrial sector is capability to give jobs. Urban poverty has replaced rural poverty. Newly arrived rural migrants join the informal economy and live into shantytowns.
Assume that Deborah Electronics expects a delivery of Fujitsu laptops in a month from a Japanese supplier. Each laptop sells at $1000 in the retail market whereas the import cost i
Question 1: "Policy can be conducted by rules or discretion.. The increased role of expectations led to some economists arguing that it would be best to force monetary policy
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Suppose you are the only market analyst in your company's management team. Your company belongs to the energy industry. It is an oil and gas company engaged in the exploration, d
In the model with utilities W i = c i + α ln(x i ) where individuals are endowed with ability levels w p m R and form fractions π p , π m , π r with π m > π p , π r
definition, advantages and disadvantages of privatisation?
what is production analysis?
Managerial economics bridges the gap between economic theory and practice
In your own words, describe the meaning of average cost. You normally buy a crate of wine for $75. One crate has 6 bottles of wine. After a month, the store clerk informs you that
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