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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
How to use Demand and Supply tools to analyze the case of the Egyptian labor market?
Gibb''s energy In every chemical system, the substance moves in a direction in which there is a decrease in free energy, for example i.e. ?G is negative. G = H - TS where, G is
graphical illustrations describing the influence of an increase in immigrants on the market supply of labour
CHARACTERISTICS OF ECONOMIC INFRASTRUCTURE: Natural monopoly is the situation where the provision of a good or a service has economies of scale, which are realised most when a
Why concept of Elasticity is important in economics? Elasticity is very important concept in economics because it affects the decision of individuals as well as of the whole e
Differentiate between nominal and real exchange rate. Nominal exchange rate is the rate which actually prevails in the foreign swap market. The real exchange rate is the rate
What is the optimal consumption bundle and marginal utility per dollar? The optimal consumption bundle is the consumption bundle which maximizes a consumer's total utility sp
what do you understand by demographic window acess by india
what is marginal costs?
Define law of supply. Quantity supplied rises as price raises, other things constant. In other words, "Other things being equivalent, when the price of a product rises, then s
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