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Economics WEC13/01 January 2023

Economics WEC13/01 January 2023

1. Short-run cost curves, diminishing returns, average variable cost calculation, marginal cost behavior, fixed and variable costs, profit maximization concepts, market structures, monopoly output and pricing effects
2. Labour mobility, government policies to increase occupational mobility, elasticity of demand for labour, labour-capital substitution in agriculture, monopsony power effects on suppliers and employees
3. Barriers to entry in markets, concentration ratio, market shares of dominant firms, economies of scale, regulatory impact on market competition, energy price cap effects on suppliers and consumers
4. Impact of wholesale price fluctuations on production costs, energy market supplier dynamics, consumer cost of living effects, government subsidies and energy discounts, price controls and regulation outcomes
5. Business growth by takeover, efficiency gains, social versus profit-maximizing objectives of enterprises, market power changes from mergers, monopoly versus competitive objectives
6. Elasticity concepts in labour demand, fixed and variable cost components, revenue curves and profit outcomes, dynamic and static efficiency in firms, market concentration and supplier exit impact

omer uner

Classification: Unit 3
Page count: 32
Viewed: 21
Last update: 4 months ago
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