Other Economics Answers

 If X is a continuous random variable with probability density function: 𝑓(𝑥) = { 𝐾𝑥(𝑥 − 3) 0 ≤ 𝑥 ≤ 3 0 𝑜𝑡ℎ𝑒𝑟𝑤𝑖𝑠𝑒 (i) Find the value of K and P (1 ≤ X ≤2) (ii) Find E (X) 

How would each of the following affect the India’s money supply? Explain. 

a- Banks decide to hold more excess reserves 

b- People withdraw cash from their bank accounts for Christmas shopping. 

c- The introduction of automatic teller machines, which allow people to withdraw cash from 

the bank as needed, makes deposits relatively more convenient.

Using example of a particular market in Mauritius,

describe and analyse the characteristics and

behavior of the chosen market in the short run and

long run. Discuss competition related factors and the

structure of the chosen market

Show the relationship between short-run MC and MPL both mathematically and

graphically.

Suppose you are monopolist and that the demand elasticity of your product is different in two markets. What would be your pricing strategy?

What is the results of empirical testing of the Ricardian model?

How is the combined supply curve of both nations for each of the traded commodities determined? How is the equillibrium-relative commodity price determined with trade?

What is meant by complete specialization? by incomplete specialization? Why do both nations gain from trade in the first instance but only the small nation in the second?

Why is a nation's production possibility frontier the same as its consumption frontier in the absence of trade? How does the nation decide how much of each commodity to consume in the absence of trade?

What is the relationship between opportunity costs and the production possibility frontier of a nation? How does the production possibility frontier look under constant opportunity costs? What is the relationship between the opportunity cost of a commodity and the relative price of that commodity? How can they be visualize graphically?