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Explanation
give a detailed discussion on the term economics of scale as applied to economics, highting examples,limitation,and original of economics of scale.
Construct a table indicating the social expected loss corresponding to each combination of precaution choices by the two individuals. (ii) What is the socially efficient combinatio
Question: (a) Using an example, differentiate between private, social and external costs and benefits. (b) With the use of a diagram, describe the difference between profi
Consider an economy, in which technological capabilities become obsolete. Use the Solow-Swan model and the knowledge spillover model to explain how its productivity growth rate dep
Consider an economy with high innovative potential, but where saving is insufficient to fund innovative investments. Use Garrison's capital-based macroeconomics to explain how more
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
Use a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labor:(a) an increase in immigration (b) more women en
Explain how the price system eliminates a surplus. The meaning of surplus is that quantity demanded is less as compared to the quantity supplied. This will lead to downward pr
Draw an indifference curve for consumption and hours of work. (Hint: in class we discussed indifference curves for consumption and hours of leisure, this is different.)
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