According to the endogenous economic growth theory, a nation’s economy can achieve sustained per capita income growth through the development of human capital, as well as through activities promoting research, development, and innovation. Solution According to the endogenous economic growth…
Which of the following is NOT captured by the notion of autonomy? B . The self – imposition of the law. A . The external imposition of the law. A . Freedom. C . The universal acceptability of the moral…
( 2 0 Marks ) Answer the following: i . Present graphically production plan, feasible production plan, efficient production plan, and optimal production plan. ii . Given the production function f ( x 1 , x 2 ) = x…
An economy consists of two individuals, A and B and two goods, a private good, which is called good 1, and a public good, which is called good 2. Each individual i=A,B is endowed with 24 units of time, which can be used to produce…
i. Present graphically production plan, feasible production plan, efficient production plan, and optimal production plan. ii. Given the production function f(x1,x2)=x10.5×20.5, calculate the profit maximizing demand and supply functions, and the profit function. Solution i. Graphically representing production plans involves plotting…
an economy consists of two individuals, A and B and two goods, a private good, which is called good 1, and a public good, which is called good 2. Each individual i = A, B is endowed with 24 units of time, which can be used to produce an…
Solution The question seems to have some typographical errors and is not clear. However, I’ll try to provide a general answer based on the information given. The production function given is f(x1,x2)=x1×x2. This is a Cobb-Douglas production function. The profit…
Accounting is a subject that many students find challenging. When assigned projects in accounting, students often struggle to choose topics. This blog aims to assist students facing this issue by providing a list of ideas to help them make informed…
Many students choose to study business to land jobs in top companies or government offices. Getting good grades is key, but it’s tough because of the competition. Getting an MBA degree isn’t easy either – you have to complete a…
Students studying business economics learn about how businesses face financial challenges and other issues over time. Professors teach them to understand these challenges through business economics. Assignments are given to test their skills and knowledge. But many students struggle and…
