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Explain the concept of externality in economics? Give one example of a positive and a negative externality in Australia.
Suppose there are two types of T-shirts: branded ones and unbranded ones and people allocate their spending in a way that they buy both types. Suppose the price of branded T-shirts
what is cardinal and ordinal utility?.
The following represents the section headers you should consider for your reasoned document. Each section should have (at least) two research citations to support your work :
Bank Deposit Bank notes and coins together constitute the currency in circulation. But they form only a part of the total money supply. The larger part of the money supply i
When given two demand functions to calculate elasticity of demand do you use point elasticity or arc elasticity of demand formula
(a) Describe how commercial banks determine their output, interest rates and profit levels assuming they act as oligopolies. (b) To what extent is the above statement a reality
Features of Free Market System The features of a free market system are: (i) Ownership of Means of Production Individuals are free to own the means of producti
Determine the Application of managerial economics Application of managerial economics isn't restricted to profit-seeking business organisations. Tools of managerial economics
example problems for the types of pricing
Explain about the Pricing analysis Microeconomic methods are employed to examine lots of pricing decisions. This includes transfer pricing, price discrimination, joint product
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