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ECM101 – MICROECONOMIC POLICY ASSIGNMENT 1 General Guidelines: This assignment comprises two sections and you must answer all questions in each section. Answers must be explained
What are the basic questions to be answered by economic institution? Four fundamental questions should be answered by any economic institution as: a. What goods and services
give a detailed discussion on the term economics of scale as applied to economics, highting examples,limitation,and original of economics of scale.
Explain the difference between elastic and fixed supply
argument against in favour of traditonel theory profit maximisation
Analyze the sustainable approach to waste reduction developed by the company you selected. Include the following: Its products Previous methods of production The way it implemented
Challenges and discussions
What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities?
Really briefly, what are 2 methods of measuring external stability? In Australia generally.
Is it possible for a firm to be both Price taker and price maker? A firm can either be a price taker or a price maker. It cannot be price maker and price taker at the similar
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