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(a) The government announced plans to decentralise/re-locate many government departments and state agencies throughout the country. Discuss TWO possible economic advantages and TWO possible economic disadvantages of this policy for the development of the Irish economy. (b) It is argued that the Irish economy is currently experiencing close to full employment (i) Explain the underlined term. (ii) Discuss TWO economic benefits and TWO economic difficulties of a full employment economy in Ireland today. (c) There has been high expenditure in recent years on developing transport and communications infrastructure in Ireland. With the use of examples, outline TWO possible social costs and TWO possible social benefits of these developments.(a) For analytical purposes economists make certain assumptions about consumer behaviour. State and explain FOUR principal assumptions. (b) A manufacturer of three different products calculates the price elasticity of demand for each product as follows: Product X: -1.5 Product Y: -1.0 Product Z: -0.3 The company wishes to maximise its revenues. Explain in respect of each of these products, what change, if any, the company should make in the prices currently being charged to enable it to achieve its aim. (c) A consumer buys 10 units of Good A when the price of Good B is 65. When the price of Good B rises to 66 (the price of Good A remaining unchanged) the consumer buys 14 units of Good A. (i) Define cross elasticity of demand. (ii) Using an appropriate formula, calculate this consumer's cross elasticity of demand for Good A. Show your workings. (iii) Is Good A a substitute for, or a complement to, Good B? Explain your reasoning. (a) State and explain THREE key features of an oligopolistic market. (b) With the aid of ONE clearly labelled diagram: (i) Explain the shape of the 'kinked demand curve' under oligopoly. (ii) Explain the long run equilibrium position of a firm facing a 'kinked demand curve'. (Hib) Explain what is meant by the term 'rigidity of prices' under a 'kinked demand curve" (c) (i) Explain THREE types of collusion which may occur in an oligopolistic market. (ii) Do you believe that the Irish retail market for banking services (e.g. personal current accounts.) operates under oligopolistic conditions? Explain your answer.State TWO functions of the Irish National Treasury Management Agency: Function 1: Function 2: Savers who have SSIAs (Special Savings Investment Accounts) are being subsidised by the Irish government through the receipt of additional bonus payments. Outline TWO economic advantages and TWO economic disadvantages of this scheme for the Irish economy. Advantages: (i) ii Disadvantages: (i) (ii]