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How does a per unit tax affect consumer surplus.
Show the possible outcome of setting a minimum wage for under-eighteens. Explaining and illustration of minimum wage - clearly set above market equilibrium outlining res
What is the difference between MRTS & MRS?
The Short Run versus long Run - Short-run: Period of time in which the quantities of one or more production factors cannot be changed. These inputs are called as fi
the short run can be defined as any period of time
write down the assumotions and importance of game theory
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Adding the economic activities of government to the circular flow model shows that: 1. Government spending creates inflation 2. Government purchases of goods and services,
Risk Neutral - A person is a risk neutral if they show no preference between certain, and an uncertain income with the same expected value.
Given the following table MUx MUx/Px Qty MUy MUy/Py 80 40 1 68 17 52 26 2 32 8 20 10 3 28 7 16 8 4 24 6 8 4 5 20 5
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