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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.
Procedure for export under deferred paymet
micro and macro economicsapplied to business environment
QUESTION 1 i) Use a simple human capital model to explain the rationale for undertaking higher education ii) Why do some people vary significantly in the amounts of human ca
What is import substitution? Import substitution: It is a government industrialisation policy for development by replacing imports along with domestic production. St
PROBLEMS OF LOWER INCOME COUNTRIES There are vast income and wealth disparities in world we live in. Approximately one-fourth of the world’s population accounts for the three-f
1. A firm has segmented its market into the following demand functions: P1 = 500 – 50Q P2 = 500 – 20Q with a cost function: MC=AC =20 a. Determine the prof
QUESTION 1 Learning has always been at the centre of improved performance in organisations. Taking an organisation of your choice, discuss how E-learning might be an efficient
QUESTION (a) Distinguish between monetary and fiscal policy, giving examples where appropriate. (b) Discuss how fiscal and monetary policies might be used by a government du
What is the Infant Industry argument? Several governments seek to protect involving industries by premature competition. Infant industries have potential comparative benefit b
Fiscal Policy The government's use of spending and taxation to affect the stage of macroeconomic moment. In theory, weak economic activity needs simulative fiscal policy, which
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