July 23, 2021

production function for a commodity

The table below represents a production function for a commodity X where capital is fixed and labour is variable. Quantity of Labour Total Physical product (Tons […]
July 22, 2021

the Law of diminishing returns

(a) State the Law of diminishing returns as applied to production functions. (4 marks) (b) Illustrate and explain the three stages associated with the law of […]
July 22, 2021

Competition Simulation Decision

This your first official “Competition Simulation Decision 1” round. I am sure that you had a good week of practice and you are ready and eager […]
July 22, 2021

International trade restrictions

Argue for and against international trade restrictions.
July 22, 2021

Tariff and quota

Distinguish between a tariff and a quota as applied in International Trade.
July 22, 2021

Advise on pricing strategy

You have been hired as a consultant by a firm producing bread to advise on a pricing strategy that would enable the firm to maximize profits. […]
July 22, 2021

T Chart with the concepts and definitions

Use the database of the Virtual Library to research and explore the definition of each of the concepts listed in the vocabulary section of the workshop. […]
July 22, 2021

The hindrances encountered in estimating national income values

Briefly explain the hindrances encountered in estimating national income values of a developing country.
July 22, 2021

Hypothetical consumption function

Given a hypothetical consumption function of the form: C = a + bYd Where Yd = Y – T And Y = Income T = Taxes […]
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