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a) What do you understand by equilibrium National Income and to what extent is economic growth beneficial to an economy?
b) Explain using both diagrams and mathematical tools, why a 20% increase in investment leads to a higher percentage increase in National Income?
c) The best way to allocate scarce resources is by treating consumers as "kings". Discuss.
d) Differentiate between public and merit goods and explain using concrete examples, why the provision of both types of goods, needs government intervention.
Determine The scope of managerial economics The scope of managerial economics involves following subjects: 1. Theory of demand 2. Theory of production 3. Theory of
Determine the law of Demand Curve The law of demand can also be presented through a curve known as demand curve. Demand curve is a locus of points showing numerous alterative p
How Income level must remain constant - law of demand The law of demand operates only when income level of the buyer remains constant. If income rises when the price of commod
demand definitions
Dan and Ann are chemical engineers working for a biotech company. Each of them would like to be promoted to a managerial position, but only one of them can get the job. Their super
production function
Comment on the consequences of environmental degradation on the economy of a community.
What are the essential points to determine in monopoly? Points essential to determine in monopoly: a. The importance of monopoly, where a particular monopolist is the merely
Q. Illustrate Fiscal Monopoly? Fiscal Monopoly: To stop exploitation of consumers andemployees, government nationalises many industries and obtains fiscal monopoly power ove
The demand for good X is estimated to be: where p x price of X in dollars M = personal disposable income in trillions of dollars per year P y = price of a competitive in do
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