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The efficiency loss of a tax is the tax revenue collected by government minus the value of the public goods financed through the tax. Why is this false?
The basic concepts of price theory
Discuss the possible solutions for private solutions (Coase Theorem) Question 8: Demand: P=100-Q Supply: P=Q MEB= 10 Discuss the possibility of over or under allocations of reso
In the context of managerial economics how do you explain a rational producer. Illustrate giving example covering different dimention.
What two important functions are performed by the price system? (1) The price system is an automatic method for distributing goods and services. (2) The price system defines t
discuss whether marginal utility is a realistic piece of economy analysis in a consumer demand
disadvantages of monopsony
What types of external economies generates the output which reduces the costs of the firms in it? The chief example of external economies provided by marshal are (i) improved
How are the limitations of the economics theory affected? Limitation of Economic Theory: While examining the generality of an economic theory, one must realize any assump
1) Describe (with an example) how trading can lead to an increase in world output if countries specialize in the good in which they have a comparative advantage. How does the intr
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