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QUESTION 1:
Assuming that you are a consultant on the ‘Light Rail' project and you are asked to forecast demand for this mode of transport. What are the forecasting techniques that you may consider to use?
QUESTION 2:
Explain the importance of a knowledge of elasticities of demand and supply for
a) a manufacturer of mobile phones b) a stakeholder in the sugar industry or in the textile industry c) the Minister of finance
how to produce
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
general equilibrium analysis of taxation in shven and whalley (1984) article
Question 1 Legislature, most commonly known by the name parliament, forms the first important organ of a political organization and to hold this position it performs certain func
Suppose there is certain social norm. Its enactment into statutory law lowers people's private cost of its enforcement because it creates the possibility that violation of norm wi
A change in the legal statute may be able to force an equilibrium if it leads to a new equilibrium which implies some revised belief which sustains the equilibrium. Tirole (1996)
Question 1: Briefly (three or four paragraphs) give reasons for your answer. (a) In studying the public sector, economists should use either positive or normative economics
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“In the presence of institutional constraints, the Theory of Second Best tells us to perform the welfare maximization problem to solve the Pareto Optimal conditions and then apply
how to make summarize the basic tenets of the arguments in the case of Mark Davis 2010 of journal of liberty?
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