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The coordination problem relates us to not only the levels of activities like research and developments (R&D) and investments but also to the behaviour of institutions that characterize the economy. Externalities can determine the ranking of alternative course of behaviour. In the evolutionary settings, the equilibrium on which the economy converges depends on its history. Thus, opening of a country to international competition that differentially ‘hurts' beaureaucratic firms in the economy may move the economy from one equilibrium to another thereby affecting the language technological progress.
“In the presence of institutional constraints, the Theory of Second Best tells us to perform the welfare maximization problem to solve the Pareto Optimal conditions and then apply
what is public debt. ? give complate information on public debt. ?
Q. Define Heterogeneity? We know that breaking of the assumptions of homogeneity of agents, in welfare economics, makes it difficult to define social welfare function. Breakin
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Alice and Bob survive on hamburgers and salads. Aliceís utility function is UA = hA(sA 1) where hA and sA are her consumption of hamburgers and salads respectively. Bobís utility
Question: (i) There are certain benchmarks for measuring the success of infomercials" what are those benchmarks in relation to the value of a product or service? (ii) It i
what are the principles of public debt?
which fallacies best diiscribe this statement The restaurant in new is either buddy''s bistro or Clyde emporium
Question: Awards for excellent performance are increasingly employed within the public service in many countries. These will or will not have a financial value. Performance-rel
various credit arrangements
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