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The price of milk is usually much less expensive in a grocery store versus a convenience store. Using economic terminology, explain why people purchase milk at convenience stores.
limitation of kaldor hicks in compensation test and welfare criteria
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
an increase in immigrants
conditions of pareto optimality
Why is investment so important in an economy? Define investment as an enhance in capital stock and link this to broad macro issues; future output, enhance in living standards, ta
How does the indifference curve and budget line for a neutral good look like?
how does the concept of possibility production curve aplicable in real life?
What is the theory of Second Best? Prove the theorem with the help of a diagram.
explain budget line?
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