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1). Define and explain the concept of an externality. Provide examples of both positive and a negative externality.
2). The Prisoner's Dilemma Exercise:
B' Strategy
Do Not Advertise
Advertise
A's Profit: $500,000
B's Profit: $500,000
A's Loss: $250,000
B's Profit: $750,000
A's Strategy
A's Profit: $750,000
B's Loss: $250,000
A's Profit: $100,000
B's Profit: $100,000
What are the advantages and disadvantages of monopsony?
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Illustrates the key terms of excise tax? Terms of excise tax: a. Tax incidence • Who bears the load of the tax? b. Excess burden or Deadweight loss • Taxes inflict
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illustrate and explain using diagrams how a single seller within the market can maintain an inefficient allocation of resourcesquestion #Minimum 100 words accepted#
Is it possible for a firm to be both Price taker and price maker? A firm can either be a price taker or a price maker. It cannot be price maker and price taker at the similar
diffence b/n fixed and variable input
in the case of a decline in velel of private investment spending, why the effect on equilibrium output exceeds the magnitude of the initial shock? also, what are the effects of th
WHAT ARE ROLE AND ASUMPTIONS OF ECONOMIC THEORIES
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