question 1 most of the firms spend considerable

Question

Question 1: "Most of the firms spend considerable amounts of money on advertisement". Explain advertising elasticity of demand and its practical applications in this context.

• Explanation of advertising elasticity of demand
• Explanation of practical applications

Question 2: Explain production function in detail.  Explanation of production function

• Types
• Uses

Question 3: Explain Marris' Growth Maximisation Model in detail.

 Explanation of the model

• Constraints
• Demerits

Question 4: Explain Price -output determination under monopoly.

• Explanation
• Assumptions

Question 5:  "Investment is the second important component of effective demand". Explain investment function.

• Explanation
• Types
• Determinants

Question 6: Write short notes on:

a) Monetary Policy

b) Physical policy or direct controls  

c) Parameters and objectives

d) Instruments and disadvantages