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Question 1:
i) Derive and explain Harberger's (1954) welfare loss estimates of monopolizing a perfectly competitive firm.
ii) What are the roles of advertising? Can it lead to an increase in market concentration? Discuss.
Question 2:
i) Use a simple human capital model to explain the rationale for undertaking higher education.
ii) Why do some people vary significantly in the amounts of human capital which they acquire? For instance, why is Sam a high school dropout, Bertrand a high school graduate and Gerard a Ph.D?
Question 3:
Write short notes on any three of the following.
i) Hannah and Kay's (1977) axioms of a good concentration measure ii) Dorfman and Steiner (1954) condition for optimal advertising iii) Marginal revenue productivity (MRP) theory iv) Occupational Licensure
Black Economy Public Policy Interface: The above mode of functioning and expansion of the black economy became an important basis for policy disruption in India. The undergrou
You should find two articles, of which one should report on changes that make farming more productive (more food per acre, hour or other unit of inputs), and another about changes
National income accounting: Final Goods: Final goods are goods and services which are being purchased for final use and not for resale or further processing or manufacturing
total revenue
Question 1: (a) Discuss the adjustment to an increase in demand for a perfectly competitive market in the: (i) Short run (ii) Long run (b) How would the same industry
The price elasticity of demand is how economists calculate the responsiveness of consumers to alters in prices for a commodity. In other words, as price enhances (reduces), the qu
What is production with one variable input
Critique on Earmarking Studying the working of earmarking in many OECD (organisation of economic cooperation and development) countries, Potter and Diamond (1999) pointed out
exams?
4 models
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