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given that a=(4;2) and b=(5;11)determine the value of x in the following equation b=3x-1/2a
what is linear programming
if australian governmrnt imposed a sales tax on petrol by $0.25, then the price of petrol will rise by 0.25. consumers can not get by without petrol, so they have to pay the whole
THEORY OF CONSUMER SURPLUS: We discuss the basic concept of consumer surplus and its derivation. A consumer normally pays less for a commodity than the maximum amount that she
1. How does the marginal social benefit curve of a common resource compare to the marginal social benefit curve of positive externality from a mixed good? Highlight the difference
This problem continues the analysis from question 2. a.Another economic study finds that the marginal cost (MC) to farmers of nutrient runoff abatement is MC = .1Q. Graph this f
explain the traditional theory of cost with suitable diagrams.explain why LAC curve is not U shaped?
the diagram used to illustrate of abnormal and normal profits
What is the theory of Second Best? Prove the theorem with the help of a diagram.
construct your own version of a production possibility curve and use it to explain scarcity, opportunity cost and choice
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