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Case for the Market With the objective of maximising total value of output focused on observing real factors of production, through the logical 'tool of marginal produ
The marginal external cost associated with the emissions of sulfur dioxide is estimated to be $30 per pound of this chemical per year. Assume that each ton of steel produced per ye
As we know now that in policy process, policy outcome may differ from the social planner outcome not only because different policies may be chosen but because a given policies may
This variant of coordination problem seeks the answer to why some countries fail to grow when public and private rent seeking makes property rights insecure. One reason is that re
types of welfare economics
1. is pareto improved demonstrated using the edgeworth box daigram?
Q. Why does government undertake an economic activity? If ever an activity has large externality or spill over and includes a large number of people, it may be found better th
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