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Define Law of conservation of mass, Explain briefly, Law of conservation of mass: In all physical & chemical changes the total mass of the reactants is equal to that of the produ
Hotel rooms go for $100/room and sell 1000/day; if taxed at $10/room and rate goes to $108 and 900 rooms are sold, what''s the tax revenue and dead weight loss?
why is the concept of elasticity crucial to the study of economics?
Question 1 (9 marks) During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following mark
ADMINISTRATIVE REFORMS - ECONOMIC POLICY: During the last few decades, phenomenal changes are taking place at a fast rate in the field of science and technology as well as in
What is pigovian welfare economics
Find the highest interest rate: There are 2 entrepreneurs, Sally and Paul. The return to their projects are given by: To finance the project, each entrepreneur needs
why constant return to scale is important
Carbon Tax: An environmental tax that is imposed on products that utilize carbon-based materials and thus contribute to greenhouse gas pollution (comprisinggas, oil, coal and other
what is direct utility in micro economics?
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