Correct Answer: A. MP is greater than AP

Correct Answer: A. size of the active population

Correct Answer: C. the regulatory nature of the market

Explanation

What is a regulated market? A regulated market is one that is supervised or controlled to some extent by the government or established public body. Most financial trading exchanges such as stock markets are regulated. The federal government regulates much of the stock market's activity to protect investors and ensure the fair exchange of corporate ownership on the open markets.

Correct Answer: D. sales of shares to the public

Explanation

A private limited company is a business entity that is held by private owners. However, private limited companies do not need to issue a prospectus because the public is not invited to subscribe for the shares of the company. A private limited company needs a minimum of only 2 directors. private company, the number of shares traded is relatively smaller and also the traded shares are owned by limited individuals. On the other hand, the shareholders in a public limited company are the public. A company whose securities are traded on a stock exchange and can be bought and sold by anyone. Public companies are strictly regulated, and are required by law to publish their complete and true financial position so that investors candetermine the true worth of its stock (shares). Also called publicly held company.

Correct Answer: B. an inferior good

Correct Answer: A. 1.25

Correct Answer: C. It is the ration of price index of exports to imports

Correct Answer: C. Enhances financial relationship among countries

Explanation

(a) Perfect competition is a market structure in which there are many buyers and sellers such that buyers or sellers cannot influence the price i.e. buyers or sellers are price takers

(b) Short-run equilibrium of a perfect competitor and an imperfect competitor.

The similarities and differences in equilibrium are as follows:

(i) Both the perfect competitor and the imperfect competitor are in equilibrium when MC = MR.

(ii) In each case, the market is in equilibrium when MC curve cuts the MR curve from below.

(iii) In the short-run, both the perfect competitor and the imperfect competitor can make abnormal profits.

(iv) The firm in a perfect competition is in short run equilibrium when MC = AR = P > AC while a firm under imperfect competition is in short run equilibrium when MC = MR < AR.

(c)(i) only one or few buyer(s) and seller(s)

(ii) There is preferential treatment

(iii) There is transport cost

(iv) Goods sold are heterogeneous (not homogeneous).

Explanation

Many West African countries are trying to adopt a free market system in order to:

(i) stimulate free and efficient utilization of resources by private individuals

(ii) pro-mote efficient production methods

(iii) give consumers and producers the freedom of choice

(iv) enable producers to maximize profit, i.e, to work harder

(v) pro-mote rapid economic growth and development through investment

(vi) facilitate rising standard of living.

(vii) enable consumers to maximize their satisfaction.