Answer the following macroeconomic questions. Provide all relevant information pertaining the question. Thanks in advance

QUESTION FIVE (a) There are l identical consumers in the market for commodityr a, each with a demand Function given by Que = 12 2F: and LIEU identical producers of commodity 3, each with a inction given by Q\" = 2GP; where: Qt]: is the quantity demanded of commodity x. Q\": is the quantity supplied oF commodity x. P'I is the price of commodity 1:. Required: (in Obtain the market demand and the market supply functions of commodity x. (3 marks) (ii) Obtain market demand and market supply schedules of commodity x and determine the equilibrium price and equilibrium quantity. [4 marks} {b} Illustrate with a diagram and explain the concept oF the circular ow of income. [3 marks) (Total: 211 marlin) QUESTION SIX (a) (i) Dene the term \"economic integration\". [2 marks} (ii) Discuss factors which are Favourable For economic integration. [6 marks} (b) Discuss the advantages oF regional economic integration among African countries. (11?. marks) (Total: Ell marks} QUESTION SEVEN Write brieF notes on the Following: (a) Scarcity and choice. [4 marks) {b} Diminishing marginal utility. [4 marks} (c) Price elasticity of demand. (4 marks) (d) Income elasticity of demand. [4 marks) (e) Substitution and income eFFects oF a price change. [4 marks} (Total: Ell} marks} QUESTION EIGHT (a) Identify and explain options available for raising Funds to finance government activities. [4 marks) (In) 1With regard to fiscal policies, discuss Shaft-rm measures a government of a developing country may adopt to ensure sustainable economic growth (10 marks) (c) Outline the reasons For slow economic growth of a developing country. (6 marks) (Total: 21} marks}