QUESTION TWO
(a) Discuss any five (5) factors that can cause the supply
curve for maize in Zambia to shift to the
right.
(a) Product A’s price increases from K1,000 per unit to K1,300
per unit whereas quantity demanded for product B increases from
5,000 units to 9,000 units. Answer the following questions;
Define the applicable elasticity and state its
formula.
Calculate the elasticity and discuss your
answer.
Explain the relationship between products A and
B.
(b) State...