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Analyse the possible effects of speculation on exchange rates. Definition of speculation in currencies as betting on the appreciation/depreciation of a given currency. E
the prevalence of excess capacity is the direct consequence of the existence of monopolistic competition
Example of a cost function
is the industry of electric power on the large economies scale
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what is marginal costs?
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1.what is price mechanism? 2.how does price mechanism benefit an echonomy. 3.what are the characteristics of a centrally planned economy?
What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities
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