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Why would your preference be influenced by the knowledge that the owners of the firm in question were the otherwise penniless inhabitants of an orphanage?
What assumptions must you make in order to interpret the area under the long-run marginal cost curve as measuring the total cost to society of having the monopo
Under what circumstances will they be at the same point after trading? Will the outcome be Pareto efficient?
Illustrate the process whereby Walrasian auctioneer adjusts real wages in order to find it. Draw the excess demand functions for the goods and labour markets.
Discuss what happens to the transformation curve between the goods if a tax is imposed on the use of one factor in the production of one good?
What happens to the transformation curve between the goods if a tax is imposed on the use of one factor in the production of one good?
By what mechanism is the condition (mrs = mrt) satisfied in a competitive equilibrium?
If there are N markets in an economy and N - 2 of them are in equilibrium, what does Walras' law imply about the two markets that are not in equilibrium?
Show that any allocation of the coconuts is a point on the contract curve. What is the core of this contract curve? What allocation might you agree?
What is the effect on wages and employment of an increase in the alternative wage?
What happens to the level of employment and the wage paid if demand in the product market increases? What happens to profits?
What are the implications for the market wage rate and employment level? Under what conditions will the labour market be unstable?
Discuss what the four propositions derived in question 1 (Marshall's laws of derived demand) tell us about the factors likely to influence the relative success.
By how much will equilibrium GDP increase? Derive the answer both numerically and graphically.
What is the importance of firm location, agglomeration economies and localization economies in the firm's decision making?
Briefly analyze the demand curve for Eskom as well as the implication of the curve with regards to market power
Examine transnet in terms of the characteristics of a monopoly. What percentage tariff increase has NERSA granted Eskom for the financial period 2016/2017.
Calculate the profit-maximizing sustainable equilibrium for this model when tuna are not common property (that is when the level of effort can be controlled).
What are the major elements and dimensions of culture in this region?
Why does the designation matter from a liability perspective?
Explain the historical development of the cotton industry in Britain and appraise its key role in the first industrialisation.
Compute the profit-maximizing sustainable equilibrium for this model when tuna are not common property (that is, when the level of effort can controlled).
Distinguish between the following concepts:A)short runB)long run2}with exception of eskom, list any typical examples of near monopolies in south Africa.
What are the main factors that can be used to explain the location of MNEs under the eclectic theory of international business?
What is the firm's current average revenue per unit? What are the present economic profits of this firm? Is the firm maximizing economic profits? Explain.