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The Snob Effect - If network is negative externality, a snob effect exists. * The snob effect refers to desire to own unique or exclusive goods. * The quantity demanded o
what is non- collusioligopoly and how its price and output is determined
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If the average variable cost curve is horizontal, what is the shape of the short-run marginal cost curve? What shape would the short-run average cost curve be?
Rationale for government intervention There are six major functions the government can perform in an economy. 1. The government provides a legal and social framework within which
explain optimal use of variable input?
why d block elements are called inner transition elements?
if the inverse demand curve is p=120-Qand the marginal cost is constant at 10, how does charging the monopoly a specific tax of 10 per unit affect the monopoly optimum and the welf
suppose a firm''s total revenue depends on the amount produced (q) according to the function R= 70q-q2 total cost dependson q: C=q2+30q-q2
What is the theory of second best
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