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Question 1:
Write short notes on any FOUR of the following: (equal marks each)
(a) Law of diminishing returns (b) Barriers to entry (c) Consumption Function (d) Devaluation (e) Multiplier Effect (f) Phillips Curve
Question 2:
(a) Giving examples, explain what do you understand by products differentiation?
(b) Discuss the output and price determination of a firm in the short run and long run concerned with differentiated products.
Question 3:
(a) Explain why a firm involved in the steel industry may not opt for a ‘price war' at least in the short run.
(b) Discuss why a member-firm of a cartel is prompted to cheat in the long- run.
What is an alternative process strategy to the assembly line that Wheeled Coach currently uses?
Why might the point at which the long-run average cost curve levels out change over long periods of time? include a diagram.
If the Government decreases the interest rates on capital goods such as new plant and equipment and building. Investment also include spending on working capital such as stocks of
You have an opportunity to invest in a new plant. The fixed costs are $100,000 per year. The marginal cost of production is $2 for a quantity up to 10,000 units per year. The margi
How can trade agreements assist development? A trade agreement is while two or more countries to by decrease or abolish tariffs, non-trade and quotas barriers which are establ
What is social exclusion? Social Exclusion: Social exclusion arises while people are denied access to goods opportunities taken as normal in a society. In several develo
Explain foreign direct investment: 1. Identify and briefly explain three costs of foreign direct investment (FDI) for a country such as China (the home country) and two benef
Explain the notion of the hidden momentum of population growth. Why is this an important concept for projecting future population trends in different developing nations?
The values for the long-run ATC curves of three different firms are listed in the table below: Quantity ATC 1 ATC 2 ATC 3
who is the proponent of theory of economic rhythm?
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