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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
Pensions: Pension benefits are paid to individuals who have retired from active employment, in order to support themselves in last years of their lives. Pension programs can be spo
Features of monopolistic competition: Large number of firms in the industry. There are many small firms each supplying only a small share of the total market output. Hence, no
Uses of Balance of payments account: It removes the uncertainty associated with the flexible exchange rate regime and brings stability. It also indirectly imposes some anti inf
Perfect competition and monopoly are rarely found in the real world and thus they do not represent, for the most part, the actual market situations. Therefore, the conclusions whic
Elastic and Inelastic Demand can be understood as follows: Slope and elasticity of demand have an inverse relationship between them. When slope is high elasticity of demand bec
Value Added:Value added in a particular stage of production equals value of total output, less the value of intermediate products (comprising raw materials, capital equipment and o
why does economist agree or disagree?
Dependence on agricultural production: Dependence on agricultural production and primary product for exports. The external sector comprises Imports and Exports, Ghana shows de
Q. Describe Consumer Price Index? Consumer Price Index:Consumer price index (CPI) is a measure of overall price level paid by consumers for various services and goods they purc
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