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Problem 1:
(a) Differentiate between positive and negative externalities? Justify your answer using examples.
(b) To what extent do government policies influence externality?
Problem 2:
(a) Explain how in economic theory a perfectly competitive firm determines price and output in the long run.
(b) ‘A monopolist is inefficient as compared to a perfectly competitive firm'. Discuss.
Production: - Firms should choose how much of each to produce. - The alternative quantities can be illustrated by using product transformation curves. Product Transforma
what is the relevance of microeconomic analysis in contemporary Nigerian economy
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Explain the how the classical school views the role of markets and government intervention in fighting business cycles The classical school believes in the smooth functioning o
Is there a trade-off between inflation and unemployment? The Keynesian side posits that policies can indeed be used to stimulate demand - demand-side policies - and those mar
Potentials of Productivity Growth: It needs to be noted that growth in productivity witnessed in the past are an average rate at the All-India level. There are considerable re
Monica consumes only goods A and B. Suppose that her marginal uility from consuming good A is equal to 1/Qa, and her marginal utility from consuming good B is 1/Qb. If the price of
Exchange Rate Policy: After the second amendment to the Articles of Agreement of IMF which came into effect on April 1, 1978, every member is free to choose its own exchange r
The table shows the demand schedule of Taylor Swift’s concert ticket. Draw the demand curve for her concert ticket
assumption of mariss model
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