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1. Explain externality, how can government intervene to achieve allocative efficiency in case of external cost or external benefit? 2. Explain oligopoly's structure and use game t
How is microeconomics differed from macroeconomics? Microeconomics focuses onto how decisions are made through individuals and firms and the effects of those decisions. For exa
About four years ago, Kanye West performed at the UIC Pavilion. General admission tickets were priced at $30. Concert promoters say that price elasticity of demand for general admi
How did fixed exchange rates and the Golden Standard affect the U.S. economy as well as other countries.
Average Total Cost (ATC): ATC is the total cost per unit of output. ATC = TC/y = (TFC + TVC)/y = AFC +AVC ATC falls sharply at the beginning of the production process because
what is the theory of second best ? prove the theorem with the help of a diagram ?
. the condition for second degree of price
What are the economic and social costs of high inflation levels? High inflation will have serious redistribution costs; make distortions to the economy; decrease international
INTERNATIONAL FINANCE CORPORATION: The IBRD loans are available only to member-country governments or with the guarantee of member-country governments. Further, IBRD can only
using the marginal utility approach discuss how economic theory explains the optimum pattern of consumption for an individual consumer
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