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1. "Price discrimination allows a monopoly to increase its economic profit by capturing part of the consumer surplus and turning it into economic profit. Such a situation however leads to a deadweight loss to the society as a whole in the long run." Is the previous statement correct or incorrect? If the statement is correct, why is it important in understanding firms' behaviors?
2. Explain the three arguments used to promote trade barriers and two instruments to impose these trade restrictions in a country.
Periodically, Merrill Lynch surveys its customers to determine customer satisfaction levels. They want to determine the impact of experience on the satisfaction ratings of their co
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Jane receives utility from days spent travelling on vacation domestically(D) and days
what is the langrangian function
Accounting profit equals revenue minus all explicit costs, and economic. One profit is defined it should not be difficult to measure the profit of a firm for a given period. But tw
Which of these will be included in US GDP for 2005? a) A car produced in Japan in 2005 and sold in the US in 2005 b) A car produced in the US in 2004 and sold in Japan in 2005 c) A
give a detailed discussion on the term economics of scale as applied to economics, highting examples,limitation,and original of economics of scale.
Features of bureaucracy: Impersonal Order: The authority is inherent in the post and not the individual who performs the official role. An official is supposed to have a det
WORLD BANK: The World Bank group is a partner in opening markets and strengthening economies. Its goal is to improve the quality of life and expand prosperity for people every
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