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1. What are the uses of elasticity to the public sector and private sector? (20 marks)
the general characterictics of economic models,its limitations and verification
the diagram used to illustrate of abnormal and normal profits
Marginal utility - It is the measure of the additional satisfaction obtained from consuming one additional unit of good. * Marginal Utility: An instance - The marginal u
1. The marginal benefit (demand) curve for pollution for an industry is P=100-4*Q, where Q is emissions in tons. The current emissions tax (price) for pollution is $40/ton. Regu
What is a Market? Markets A geographically stated area where buyers and sellers interact or communicate to decide the price of a product or a series of products. Marke
Q. Show the Environmental Taxes? Environmental Taxes: Taxes which are imposed on particular activities, or particular products, which are considered to be especially damaging t
CHARACTERISTICS OF ECONOMIC INFRASTRUCTURE: Natural monopoly is the situation where the provision of a good or a service has economies of scale, which are realised most when a
The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. What would answer be
Florida citrus mutual, an agricultural cooperative association for citrus growers in Florida, needs to predict what will happen to the price and output of Florida oranges under the
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