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Industries in the country of Technologia invest in latest equipment that annually enhance productivity of private workers by three percent. Government employees do not profit from same technical advances. 1. If wages in the private sector are set eqivalent to the value of the marginal product, how much will they increase yearly?
2. Government workers annually get increases so that wages remain comparable to those in the private sector. What happens to the price of public services relative to privately produced goods?
3. If the similar quantity of public services is produced every year, what happens to the size of the government (measured by spending)?
Problem 1: i) According to you the Central Electricity Board in Mauritius operates in which type of market structure? Justify your answer. ii) Compare and contrast a perfe
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Graphthe market for water park business, labeling the demand curve, the social-value curve, the market equilibrium level of output, and the efficient level of output. What is the p
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1.) In what way is insurance for medical loss/illness differ from insurance for any type of property loss?
Explain how the price system answers the five fundamental questions of economics, and talk about at least two of the short-comings of the capitalist price and market system.
Question: You are the Head of the Public Relations Department of an airline company. Your Chief Executive has asked you to make a presentation on crisis management to senior s
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Deductibles and copayments are two common incentive tools in insurance. (a)Explain which informational problems each tool primarily addresses. (b) If only one had to be used, indic
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