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When it works, government "industrial policy" that funnels critical capital to just the right ventures and facilitates market coordination-in contrast to usually messy market competition-is quite compelling. What primary unappealing aspect of industrial policy leads a lot of economists to prefer the messiness of market competition?
what is production analysis?
Star Petroleum and Moonlight Petroleum are retail petrol stations that compete in the local market to sell petrol to consumers. Star and Moonlight are located across the street fro
What are the factors of evaluating a policy or institution? Factors to consider during evaluating a policy or institution comprise: • Internal and external constraints onto
What is Frugal Economy
law of variable propotions
Calculate Average Total Cost A perfectly Competitive firm is operating at a profit-maximizing level of output, q*. This output level is 500 units. At this output level, the
1) True or False: Elections under the NLRA were intended to replace the need for striking in order to have a union recognized. 2) True or False: Companies can voluntarily acknow
QUESTION (a) Explain the relationship between scarcity, choice and opportunity cost. (b) What is market failure and why does it occur in an economy? (c) Differentiate, us
What are the limits of development theories? Theories are generalisations: • When LDCs share similarities, each country is unique economic, cultural, social and historical
Why are markets considered as unsuitable for promoting development? The process of establishing a market system frequently includes radical reform which produces both winners
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