The willingness to pay for higher education: does the type of fee matter?
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Answer: 1. (A) Name of point B is inefficient. Name of point A is efficient. Name of point D is unattainable. 10 units of machinery is the opportunity cost of producing 10, 000 more tons of rice when the economy of Nepal is operating at point T. (B) (B1) Discovery of fertilizer would increase the output of rise given the amount of other things will take the economy of Nepal to PPF2. (B2) Discovery of steel would increase the production of ...Read More
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Answer: 1a. Figure 1: Trend in monthly cash rate in Australia (Source: rba.gov.au 2020) The trend in monthly cash rate target of Australia shows that there is an overtime declining trend. In order to give the economy necessary stimulus through monetary policy, Reserve Bank of Australia continuously lowered the cash rate with cash rate declines sharply from 14.00 in August 1990 to 0.75 in January 2020. RBA adjusted the cash rate with...Read More
Answer: Micro Economics Economies of Scale refers to the advantages accrued by firms as the firms increase the level of production.(Chauhan, 2009)For example, in the beginning, the per capita cost for every seat of every airline is high. However, as the number of seats sold increases, the cost per unit or the marginal costs decreases. This is simply due to the fact that the fixed costs of running an air line are high. As the number of seats...Read More
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