1. Explain what is meant by an Inferior Good. What information is required to establish whether a...

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1. Explain what is meant by an Inferior Good. What information is required to establish whether a particular good is inferior? (6 marks) 2. i) With the aid of an appropriate diagram explain what is meant by economies and diseconomies of scale. (4 marks) ii) Under what circumstances can they be expected to arise? (2 marks)

Posted Date: Jun 13, 2024 12:11 AM

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1. Explain what is meant by an Inferior Good. What information is required to establish whether a...

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