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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.
1. Why does the quantity of salt demanded tend to be unresponsive to changes in its price?
A Korean BBQ restaurant has four workers for washing jobs: Dane, June, Park, and Pola. Each workers eight hours a day and can produce two washing services: Washing rice bowls and w
Why not cancel all third world debt? Two arguments are advanced in opposition to debt cancellation. • Developed countries finance the World Bank which can use its funds to
what is nature of elasticity?
QUESTION Write short notes on any three (3) of the following: (a) National income and the standard of living. (b) Globalization and its implications for developing countr
example of an HMO with these types of set rates
hi
Question: (a) Discuss the conditions necessary to achieve Pareto Efficiency. (b) Competitive markets are generally assumed to lead to a Pareto optimal allocation of resource
How is effort monitored onto a project? It is significant that the effort to be spent onto activities is reassessed on a regular basis – why is it so very important? Effort is
MC=25+30Q-9Q^2 fixed cost=55 find total cost avarage cost variable cost
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