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What is a natural monopoly Define natural monopoly as a situation where the advantages of scale a fixed costs are so high that it is impossible to fully exploit them. MC and AC
What?
What is Deflation? Deflation in economics refers to reduce in the general price level, i.e. the nominal cost of goods and services as well as wages reduce. As, it is an opposi
What is the difference between houehold and consumers?
Answer in true or false 1. "Improvements in environmental quality of a recreational site will, all other things being equal, increase consumer surplus of individuals that visit
what is a sub game perfect Nash equilibrium
Consider a thin transparent plate whose thickness d(x,y) is a square (instead of a sinusoidal) periodic function of x of period Δ=λ. Show that the angle θ between the diffracted wa
explain how a perfact market responds to changes in consumer demand?
Government increases the taxes on car ownership. Explain the possible market outcomes of such a decision. As this is a tax paid by owners, and therefore not levied indirectly
Oligopoly and its properties
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