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Suppose you are a regulator in charge of allocating water between residential and agricultural users (farmers) in Southern California. You conduct a survey that finds that under th
Analyse the strengths and weaknesses of GDP as a measurement. Answer Strengths of GDP as a measurement 1) It helps in making international comparison among different
Problem 1: i) How might unemployment arise? ii) Critically explain how fiscal policy can be used to reduce the unemployment rate in an economy. iii) ‘'Inflation always
Equation (1) gives a hypothetical demand curve for hybrid vehicles in the United States during the year 2000, where Q is the quantity demanded and P is the price. Equation (2) giv
Long-Run Versus Short-Run Cost Curves What happens to average costs when both the inputs are variable versus only having one input that is variable (short run)? The Inflexi
(i) When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3. (ii) Given the demand function 0.1Q - 10 +0.2P + 0.02P2 =0, calculate the price elasticity of
impact of computer technology on nigerian economy
Let 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 p H =0.5 and p L
Why and how are economists attempting to create more accurate measurements of development? The why part is simply because of the complexities built-in to the concept of develop
In the case of a tax abolition on food staples, what are the short run and long run effects?
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