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QUESTION 1 PART A [EXPLAIN IN COMPLETE DETAILS] (I) Discuss the factors influencing the (i) demand for, and (ii) supply of a good. (II)The short-run

QUESTION 1 PART A [EXPLAIN IN COMPLETE DETAILS]

(I) Discuss the factors influencing the (i) demand for, and (ii) supply of a good.

(II)"The short-run equilibrium of a perfectly competitive firm is similar to its long-run equilibrium". Do you agree? Explain your answer.

(III) Monopolists have adverse effects on the consumer society and should be eliminated". Discuss

(IV) Distinguish carefully between economic growth and economic development.

(V)Discuss the monetary and fiscal policies that may come to the rescue of an economy facing a recession

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