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Lots of states have scratch offs with various different monetary payoffs. For example, the "$500 a week for life" in New York offers the payout and odds structure noted below.
(a) What is the expected value of playing, suppose you live 60 more years and there are 52 weeks in each year.
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Explain the concept of externality in economics? Give one example of a positive and a negative externality in Australia.
Demerits of direct taxes a. Heavy direct taxation, especially when closely linked to current earnings, can act as a serious check to productivity by encouraging absenteeism
Explain the limitations of managerial economics
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