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eiplain why indifference curve are convex to the origin
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It has been accepted to most policy and development economists that among the most important sets of institution in an economy are those that provide for enforcement of contracts.
In terms of the debate in the media on state owned enterprises ,explain the decreasing cost case and the possibility of privatisation of SOEs such as Eskom and SAA
Unions tie the hands of management and inhibit efficient decision making
An economy has two agents and two goods. Utilities are given by UA=min{xA,0.5yA} and UB=min{xB,0.5yB}. The total amount of X in the economy is 10. The total amount of Y is also 10.
Alice and Bob survive on hamburgers and salads. Aliceís utility function is UA = hA(sA 1) where hA and sA are her consumption of hamburgers and salads respectively. Bobís utility
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