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WHAT IS OPPORTUNITY COST
types of market competitions
Private benefit and social benefit: Bridge the gab between private cost and social cost, and private benefit and social benefit.Under perfect market, there may be a divergence
1. What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities? 2. What are
waht are the characteristics of perfect competetion market
Five identical people live in a small town and can earn a living either by having cattle $100 or by becoming a singer. If one person competes their expected payment is 210, if two
#i need more light about it..
what are the limitations of economies of scale?
Types of production function
law of diminshining marginal utility
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