Explain the difference between positive and normative

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Reference no: EM133422864

Questions:

a - Explain the difference between positive and normative questions and give examples for each:

b - Explain negative externality and give example(s).

c - Explain positive externality and give example(s).

d - Explain what Marginal Product of Labor is.

e - Explain what Decreasing Marginal Return is.

f - Explain what Increasing Marginal Return is.

g - Explain what Constant Marginal Return is.

h - Explain the Efficiency concept in Economics.

Reference no: EM133422864

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