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"Consider a market with n firms occupied in Bertrand competition. These firms have in common dissimilar marginal costs but any number of them may also have equivalent marginal cost
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
steps for law of coservation of mass
1- Explain how a policy mix (like the one used in 1990s) could help reduced to eliminate the budget deficit without having an adverse effect on the output. Illustrate your answer
opportunity cost
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Q. Define Migration in Microeconomics? Migration:It's the movement of human beings from one country or region to another. Sometimes migration is motivated by economic factors (
"Take a monopolist with a constant average cost. The higher is the elasticity of demand at the chosen monopoly price, the higher is the monopolist's profit-to-revenue ratio." Expla
What are the properties of cost function? Properties of Cost Functions: Some similarities are here with consumer theory. Such similarities are actually exact while one compa
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