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Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
Should the manufacture, supply and use of tobacco be criminalised? Provide arguments for and/or against (relates to defining crime; concepts of deviance etc) Examine t
What is a natural monopoly Define natural monopoly as a situation where the advantages of scale a fixed costs are so high that it is impossible to fully exploit them. MC and AC
What are the causes of emergence of monopoly?
if coast of good A fall by Rs.1 & coast of good B increases by 1 Rs. what will be the effect on budget line
how do I explain the hicksian and slutsky theory of consumer behaviour in an examination
When Stockwell Day was leader of the Canadian Alliance Party (which soon became the new Conservative Party) he wrote that "the national debt is mortgaging our children's future." A
Island Economy: Consider an economy as a sea with islands of local markets. Each household produces goods and sells them on one and only one of the arrays of these markets. Go
What two important functions are performed by the price system? (1) The price system is an automatic method for distributing goods and services. (2) The price system defines t
In the context of managerial economics how do you explain a rational producer. Illustrate giving example covering different dimention.
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