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Economics and Ethics : Morality and ethics are powerful motivations to behavior. Thouh, economists suppose that rationality is a function of demonstrable self-interest. That means, material well-being B greed if you will. The acceleration of corporate scandals by the early part of this century seems to suggest a disregard for issues other than material well-being by lot of people who were in positions of authority in various major companies (Enron, Worldcom, Tyco etc.) Self-interest when measured purely in dollars and cents will often give rise to unethical, immoral, and perhaps even illegal conduct.
Arc Elasticity is defined below: Arc elasticity measures/calculates the "average" elasticity between two points on the demand curve. The formula is simply given as (change in q
The reaction of nitrogen dioxide with fluorine 2 NO2 + F2 2 NO2F is first order in NO2 and first order in F2. Complete the rate law for this reaction in the box below. Use the f
a consumer consumes only two goods x and y is in eqillibrium price of x falls explain the reaction of consumer through utility analysis
what are monetry accounts?
Describing Risk * To measure risk we should know: 1) All the outcomes which are possible. 2) The probability that each outcome will occur. * Interpreting Probability
Modem theories of trade
Explain how the price system eliminates a surplus. The meaning of surplus is that quantity demanded is less as compared to the quantity supplied. This will lead to downward pr
detail of consumer surplus with examples
This method is also known as Experts opinion methods of investigation. In this method instead of depending upon the opinion of buyers and salesmen firms can obtain views of the spe
What are the various forms of aid a developing country might receive? Here the student must show clearly the difference between grant (donor) aid; reciprocal (tied) aid; bilat
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