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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.
determinate equilibrium price and quantity. if Qd=7-1/2p AND Qs=1/4P-1/2
what will be the possible concequences if a large scale like Toyota place its new product in Indian market without having forecast the demand for its product
what is general equilibruim?
1. Suppose that Mr. John has the following Cobb-Douglas utility function U = 6X^2/3y^1/3 the market price of X and Y commodity are $1 and $2, respe
Positive versus Normative Economics Positive Economics Positive economics considers with the predictions or observations of the particulars of economic life. For instance:
how to calculate it given a functuion
concept of narrowness in pure economics
CURRENCY UNIONS AND OPTIMUM: This Section explains the working of monetary unions and common currency areas. The Section also examines the case for and against optimum currenc
Question Suppose you work for the state government of California. Due to the heavy traffic jam on I-880, the state has decided to decide to construct a new highway. To fund a p
Explanation
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