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1. Explain externality, how can government intervene to achieve allocative efficiency in case of external cost or external benefit? 2. Explain oligopoly's structure and use game t
detail of consumer surplus with examples
Question 1: (a) Discuss the adjustment to an increase in demand for a perfectly competitive market in the: (i) Short run (ii) Long run (b) How would the same industry
You just opened a flower shop and are trying to understand pricing issues. You were told that elasticities are very important in determining prices and what products to supply, so
Problem 1: a. Use the circular flow model to explain the concepts of injections and withdrawals. b. Explain the concept of budget multiplier. c. Using the concept of mult
Definition of Pareto Optimal Allocation
How might one measure differences in living standards between less developed and developed countries? This is a very wide question where any clear and relevant calculate shoul
stackelberg,bertnart,cournet about oligopoly
Why Average Revenue= Marginal Revenue
What are the advantages and disadvantages of monopsony?
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