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Problem 1:
a. Briefly explain and distinguish between a centrally planned, laissez-faire and mixed economy.
b. According to you, which type of economic system is most desirable? Why?
Problem 2:
a. Describe, with the aid of a diagram, what is meant by the circular flow of income.
b. Explain the problems involved in using national income data to compare standards of living in different countries.
contrast the longrun equilibrium positions of monopolistic competition firm and oligopoly
Find the best response functions and the mixed strategies Nash Equilibrium if each player randomizes over his actions.
SHOW MATHEMATICAL EXAMPLE
Methods of Forecasting The various methods of forecasting demand may be grouped under the followings categories: Opinion Polling Method: In this method the opinion
Why firm charges different prices to different consumer? Every firm needs to maximize its profit. When goods are sold to different customers, each customer negotiate price of
explain monotanic
Highlight the few heading of it
an emission fee levied against polluting firms will tend to shift the supply/demand curve of the firm/product to the left/right?
(a) Reasons of Urban Growth (b) Characteristics of Urban Growth (c) Economic Life of a Building (d) Zone of Transition (e) Location Theory (f) Patterns of Growth Theory (g) Growth
meaning, scope, nature
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