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1. How does the marginal social benefit curve of a common resource compare to the marginal social benefit curve of positive externality from a mixed good? Highlight the differences through graphs.
2. a. Suppose the demand for saline solution is perfectly inelastic for contact lens wearers. If the government imposes a tax on saline solution, what occurs? Be sure to tell what happens to the price paid by the buyers and discuss the incidence of the tax.
b. If income tax rates on labor income are decreased, what is the effect on the labor supply and the labor supply curve? What is the effect on the equilibrium quantity of labor hired?
Q. Define Migration in Microeconomics? Migration:It's the movement of human beings from one country or region to another. Sometimes migration is motivated by economic factors (
Define the price ceiling A price ceiling is a highest price that sellers can charge for a product.
What does the basic neoclassical, or traditional, model of economics assume about markets? It supposes that markets are perfectly competitive and smoothly functioning, and thos
What are the basis for International Trade?
income=100 price of x=5 price of x2=10 find consumer equilibrium with diagram
periodic table groups and acid and basic radical
Assume that the market for lamb is perfectly competitive. Using an appropriate model (or models) illustrate and explain a. How a competitive market arrives at equilibrium
(a) Increase in technology and productivity take effect in the red bull market use and label a graph to explain the result of this change on each of the following (i) Market Pri
compare and contrast adam smith''s theory of absolute advantage theory and david ricardo''s comparative advantage theory of international trade.
What is the difference between change in quantity demanded and change in demand
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