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[discussion_vu] ECO401 Midterm Paper 26-11-2011

Assalamu Alaykum Warahmatullahi WaBarakatuhu,
 

How the principle of diminishing marginal rate of technical substitution is related to the law of diminishing returns.   3 Marks

 

Assuming that supernatural profits can be made in the short run in a monopolistically competitive industry; will there be any difference in the long-run and short-run elasticity of demand? Justify your answer.    3 Marks

 

 

From the information given below:   5 Marks

TR = 100Q-Q²

 

Prove that the slope of marginal revenue (MR) is twice steeper than the slope of average revenue (AR) curve.

 

How can we achieve optimum combination of factors of production if:     5 Marks

 

                                              MPPk > MPPL

                                                 PK          PL

 

 

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[discussion_vu] Travel And Tour World : Weekly Newsletter

	Travel and Tour World - Global News global travel and tourism news on your desktop Date: 26.11.2011
	Airline News:
	Alaska Airlines Begins Cross-Country Flights on Used Cooking Oil Blend Jetstar's Beijing service kickstarts Cathay Pacific boosts connections to Latin America Qantas introduces premium boarding AirAsia Indonesia Unveils Green Home Lufthansa Airlines to boost its presence in China British Airways prepares to welcome Airbus A380 easyJet and Europcar renew their exclusive long term partnership PAL restores full flight ahead of 'peak season' Cathay Pacific further expand its code-share services with Japan Airlines
	Association News:
	SITA Workbridge next generation Resource Management System arrives in Russia ASTA report finds reputation is top criteria when selecting preferred supplier PATA and Tourism Administration of Guangdong Province Sign MoU ABTA welcomes Department for Transport's decision
	Hotel News:
	Wyndham Super 8 Opens Milestone 2,200th Hotel Jones Lang LaSalle Hotels has closed the $95M sale of Courtyard Miami Beach Oceanfront Four Seasons Hotel Cairo Offers Special Services for Female Travellers Carlson's T.G.I. Friday's puts extra cheer in the holiday season HYATT announces the fourth edition of the Hyatt student prize Four Seasons Hotel Baltimore Opens Its Doors for the First Time Jumeirah releases rehabilitated sea turtles back into the Arabian Gulf Shangri-La Hotel, Yingkou To Open In 2015 Best Western Offers Opportunities To Earn Turkish Airline Miles Aleenta Resorts Present the Christmas Bliss Gift Certificates Host Hotels & Resorts, Inc. Announces a New $1 Billion Credit Facility
	Destination News:
	VISITBRUSSELS now offers potential tourists a preview of Brussels
	Tourism News:
	UK schools to support London 2012 teams from around the world Indonesia sets billion dollar tourism budget Thailand Works on Restoring Tourism Industry China Continues Restoration of Great Wall European tourism defies the euro crisis Tourism Australia provides TV backdrop in bid to lure Indian tourists Tourism New Zealand brings Asia Pacific Occupational Therapy Congress in Rotorua
	Railway News:
	Chicago Amtrak Trains super-sized for holidays CN Hockey Greatest Stars Challenge scores big, raising $335,000 for charity Queensland Rail arrives with New Timetable Infrarail 2012 to be staged in UK National Exhibition Centre
	SPA News:
	Centara opens upgraded Spa Cenvaree at Udon Thani Hilton Launches eforea spa at Hilton Collection on HiltontoHome.com Retail Site
	Technology News:
	agoda.com teams up with HotelPartner EIBTM delivers first full show event app Tampa Bay Sports Commission inks three-year deal with elder automotive group Sydney launches new iPhone App to capture New Year's Eve GuestLogix Establishes Asia Pacific Headquarters to Strengthen Footprint in Region
	Travel Events News:
	XVII MITM Americas in San Salvador ends with success AIME announces new partnership with industry's major associations IIPT Founder Presented Visionary Award by International Council of Tourism Partners Travel & Tourism is facing major changes brought by Information and Communication Technologies Reed Travel Exhibitions launches World Travel Market Latin America Abu Dhabi to host WTTC's Global Summit in 2013
	Cruise News:
	Splendour of the Seas becomes the first cruise ship to feature iPads in all staterooms Princess Cruises survey reveals Americans Choose Travel as the Ultimate Life Goal MSC Cruises Invites Facebook fans to cook up a storm with Antony Worrall Thompson Oceania Cruises' 'Marina' Earns 5-star Rating from Berlitz
	MICE News:
	Visitors Invited to Witness Future of Rail at Brisbane Convention and Exhibition Centre Seoul Convention Bureau invites Tech-Savvy EIBTM Convention Professionals to its SNS Promotion Farnborough International Airshow 2012 now has more reasons to exhibit
	Download and Read Free Travel And Tour World November 2011 Issue
	Xclusive (Must Visit Amusement Parks) TTW MICE (Istanbul) Special Feature (Alternative Tourism) Country Focus (Hawaii, Cambodia) Travel News (Destinations, Hotels, Airlines, Cruises, Events and more) Cityscape (Auckland, Kuala Lumpur) Travel Insight (itour) World Festivals (Pushkar Festival, Festival of lights and more) Limelight (Caribbean) Travel Show Highlight (World Travel Market, Asian Hospitality and TravelShow and more) Travel Show Review (World Travel Awards, ITB Asia, TheTradeShow, La Cumbre, and more) Travel Show Worldwide(World Travel Market, LUXURY TRAVEL EXPO 2011, TRAVEL TURKEY IZMIR and more)
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[discussion_vu] Check out "Hurry Up and Vote Now! The 2nd Annual Pakistan Blog Awards 2011" on Virtual University of Pakistan

Virtual University of Pakistan Network of Virtual University of Pakistan Students! M.Tariq Malik Check out the discussion 'Hurry Up and Vote Now! The 2nd Annual Pakistan Blog Awards 2011' Click on the below Discussion link for detail.thanks Discussion posted by M.Tariq Malik: Cast Your Vote & Show Your Love :-)  We pleased announced that vustudents has been nominated as best education blog in annual Pakist... Discussion link: Hurry Up and Vote Now! The 2nd Annual Pakistan Blog Awards 2011 About Virtual University of Pakistan Leading Students Social Network Community In World of Education For Virtual University of Pakistan Students & Other Universities Worldwide. 24640 members 18267 photos 4567 videos 15541 discussions 28 Events 5380 blog posts   To control which emails you receive on Virtual University of Pakistan, click here