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What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities
Labor cannot be divided from the human being who provides it. The result of the inseparability of labor from the people who gives it, is that the wage for the last hour worked mus
Consider the model of corruption explored by Shleifer and Vishni's where there is one government-produced good X. There is a demand for that good described by the inverse demand eq
use the concept of the income elasticity of demand to explain the difference necessities, luxuries and inferior goods
Functions of the Central Bank: Currency issue and distribution: The Central Bank is the only institution empowered by law to issue currency notes and coins that are used as a
Explain the graph as their is an increase in income
causes for emergency of monopoly
What is the difference between 'Capital' and 'Capital value'? "The total amount of money or other resources owned or used to obtain future income or benefits." On the other h
who propounded the pure international theory of trade?
how to look a graph in different kind of ppc in the graph when we see
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