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Question 1:
a. What is the supposed rationale for subsidising higher education in various developing countries?
b. Do you think there is a legitimate rationale to the above, from a development viewpoint? Describe your answer.
Question 2:
Do you think that State-owned enterprises should be encouraged or discouraged? Explain your answer.
The marginal rate of substitution (MRS) quantifies the quantity of one good a consumer will sacrifice to get more of the other good. – It is calculated by the slope of the indif
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Inflation And Unemployment: Inflation describes a persistent and an appreciable increase in the general price level. The inflation rate is measured as a percentage change in a
Suppose that the U.S. Department of Agriculture (USDA) administers the price floor for cheese, set at $0.17 per pound of cheese. (The price floor is officially set at $16.10 per hu
the general characterictics of economic models,its limitations and verification
Evaluating the Gains and Losses from the Policies of Government: Consumer and Producer Surplus * Review - Consumer surplus is total benefit or value which consumers rece
Perfectly Competitive Markets * Characteristics of Perfectly Competitive Markets 1. Price taking 2. Product homogeneity 3. Free entry and exit * Price Taking
Prove that utility approach and indifference curve yield the same consumer equilibrium
when price falls
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