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Q. Common Resource A good is a common resource if it is non excludable but rival. Tragedy of Commons Tragedy of Commons- re was town in medieval age that had a grazing land called ‘Town Common.' This grazing land was for whole town and families could allow their flock of sheep to graze free of charge. Why is it that grazing land was not protected by individual families?
Graph the budget constraints facing each of the three families and discuss a possible indifference curve which could correspond to the choice each family makes.
Elucidate how does the price of fertilizer compare to the average total cost, the average variable cost also the marginal cost of producing fertilizer.
Increasing the minimum wage will result in a decrease in employment for workers who now earn less than the new minimum wage.
What criteria would you apply to determine where such a policy is or is not successful. Judging from your own stated criteria, was Japan's exercise successful.
What is cost-minimizing firm's expansion path will have vertical or horizontal segements.
Metro Limo also Urban Limo, operate nine passenger vans. These duopolists cannot compete with price, but they can compete through advertising.
Illustrate what are the benefits also the costs. Under Illustrate what conditions would you advocate for trade restrictions.
According to comparative advantage, in which industries would you recommend the country to specialize. Has the country specialized in your suggested industries.
Which policy monetary or fiscal would be more appropriate to improve the situation. Explain your choice clearly using figures.
The companys marketplace department estimated a linear demand function for Border's picante sauce:
Which of the subsequent goods with their respective income elasticity coefficients in parentheses will most likely suffer a decline in demand during a recession.
Calculate Marginal Revenue from demand if the marginal propensity to save is 0.05, how large is the multiplier.
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