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Question 1:
(a) Use indifference curves to distinguish between income and substitution effects.
(b) Hence, using the above techniques explain why the demand curve slope downwards.
Question 2:
What are the main criteria for designing a tax system? To what extent do you think the national residential property tax meet these criteria?
Question 3:
(a) What are externalities? A dyeing unit of a textile firm discharges effluents in the lagoon, polluting the water, adversely affecting a nearby hotel resort, fishermen and the community at large. Illustrate graphically why this problem results in a departure from a perfectly competitive market.
(b) What conclusions can be drawn about market allocations?
Managerial Accounting Before going to Managerial Accounting let us discuss a bit about Financial Accounting. Financial accounting is concerned with reporting to the external pa
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Sales of Cool-Man air conditioners have increase steadily during the past five years: Year Sales 1 450 2 495 3 518 4 563 5 584 6 ?
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