ECONOMICS – Daily Answer Writing Challenge, 12 July 2014

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ECONOMICS – Daily Answer Writing Challenge, 12 July 2014

1) ” He skates on thin ice who identifies profit with monopoly and monopoly with profit” Explain? (200 words) 

2) Under Bertrand price competition with homogenous products in an oligopoly demonstrate how is the equilibrium price that will prevail arrived at? (300 words)
3) Expand on the following three explanations for the Kuznets hypothesis about inequality and development i) Cohort size hypothesis ii) the effect of openness on inequality iii) the strong versus the weak version of hypothesis.  (300 Words)