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Mikes' preferences for consumption and leisure may be represented by the Utility function: u(C, L) = ( C-200)*(L-80) . His marginal utilities of leisure and consumption are (C-200
law of diminishing returns
In this part, use the results for market demand for short-run and long run market supply of good x1 obtained in parts one and two. When a change (e.g. income or taxes) is introduce
When somebody wearing muddy shoes rides a public bus, he imposes a negative externality on other riders (passengers get some mud rubbed off on them, and the shoes look ugly). If a
Discuss whether inflation or deflation is the more serious problem for an economy. Inflation is a consistent general enhance in the price level, whereas deflation is a consiste
How to use Demand and Supply tools to analyze the case of the Egyptian labor market?
GENERAL PRINCIPLE OF EXTRACTION OF METALS
what is externalities and market inefficiency
critically analysis firm theory of profit maximization?
what is the theory of second best ? prove the theorem with the help of a diagram ?
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