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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
Problem 1: Any development strategy should put people first; indeed, its very effectiveness should be measured in terms of how it impacts the poor. (a) Describe the link bet
Part 1 - Select a construction-based business of your choice and explain stakeholder theory to illustrate the primary interests of the stakeholder groups and identify any areas o
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How is the foreign exchange rate determined
Assume that the market equilibrium rent for two-bedroom apartments in Santa Monica, California is $1500 per month and the quantity is 40,000 units. The city council of Santa Monica
Hi, Can you help with writing journals homework? It should be in english as a second language. Ten pages different topics about Karl Marx economics views. I will give you the t
Normal profit: Normal profit is when total revenue is exactly equal to total cost when the latter includes both explicit costs. It is the type of profit when made by firms in
Production possibility frontier PPF is a combination of two or more goods a which a country can make in a given timeline or period with resource fully employed.
Second degree price discrimination (two part-tariff) An electric utility in Ontario has the following cost structure: TC = 500 + 20Q Suppose that the market (inverse o
Explain consumer sovereignty and why it might not be that extensive in real life. Explanation of consumer sovereignty Use of S/D model to show how changes in consumption pat
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