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When somebody wearing muddy shoes rides a public bus, he imposes a negative externality on other riders (passengers get some mud rubbed off on them, and the shoes look ugly). If a
Identify the four institutional requirements of markets. The four institutional needs of markets are: Pprivate property, Social institutions of trust, Good physical i
Hello there! I am currently doing an MBA course about the financial crisis which is quite challenging. Today we were given a question about the topic: Long term capital management
suppose you have a coffee shop. list of fixed input and variable input for operating the shop. ques-2 describe the condition under in which labour treated as variable cost and whic
Rule of Thumb Method Sir Ashby had been requested in 1960 by the Government of Nigeria to submit a report on manpower development in Nigeria. In doing so, in the absence of re
explain the marginal produtivity theory
What does the basic neoclassical, or traditional, model of economics assume about markets? It supposes that markets are perfectly competitive and smoothly functioning, and thos
what is linear programming
Current Account: The Current Account can be broken down into two parts, viz., one, balance of trade, and, two, balance on invisibles. The Balance of Trade (BOT) deals only wit
Point Elasticity of Demand - For large price changes (such as 20%), value of elasticity will depend upon where price and quantity lies on demand curve. - Point elasticity me
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