Search over 10,000 free study notes

Primary product dependency can be defined as the sole reliance on the exporting of commodities. Angola, for example, is largely dependent on the extraction and exporting of crude oil, with the oil sector ...

In the general demand function Qd=a-bP, b is the slope. Therefore 30 is the slope of this demand function.When Qd=60 price is calculated by:60= 40-30P30P=420-6030P=360P=12

Fiscal policy is the manipulation of government spending and taxation levels by the governing body of a nation to influence aggregate demand. Expansionary fiscal policy refers to the increase in governmen...

When marginal costs start to rise, starting at point C, due to diminishing returns, the average variable cost is still decreasing, at point X. The average variable cost will continue to decrease as long a...

Essentially there are several features of a market structure which determines why monopolies are able to profit maximise.
Very small number of sellers in the given market, In a pure monopoly there is...