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Oil flows through a pipeline which contracts from 450mm diameter at A to 300mm diameter at B and then forks, one branch being 150mm diameter discharging at C and the other branch 225mm diameter discharging at D. if the velocity at A is 1.8 m/s and the velocity at D is 3.6 m/s, what will be the discharges at C & D and the velocity at B & C
Explain why equalizing the marginal utilities of all good does not maximize utility. Explain why equalizing the marginal utility per pound spent on each good does maximize utility.
Why do some firms use lots of capital and not much labour, while others use not much capital and lots of labour?
Explain how the marginal product of labour and the average product of labour change as the quantity of labour employed increases. Why does marginal product eventually diminish?
Is a firm technologically efficient if it uses the latest technology? Why?
How does a single-price monopoly determine the price it will charge its customers? Why can a monopoly make a positive economic profit even in the long run?
In a perfectly competitive market where there is virtually no product differentiation, what are the priorities or focus of a firm? How could a firm increase profits?
Which industries are highly competitive, give local examples? What are the three types of firm and in which sectors is each type most prominent?
a. Name a product that has a price that adjusted very frequently in the last year. Explain why.
b. What is the difference between monopolistic competition and oligopoly? Explain with local examples.
What mass of solute ___ mg is dissolved in 1.106kg of a 5.12% (m/m) solution?
