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Problem: (a) "Economics is the study of how society decides what, how and for whom to produce". Describe the importance of opportunity cost to a society. (b) Distinguish bet
Composition of Trade: It is indicative of the structure and level of development of an economy. For instance, most of the UDCs depend for their export earnings on a few primar
what is limitation of inherent
what is break even quantity
Q. Explain about Contingent valuation? Evaluation of willingness to pay for a specified environmental resource or a change in the resource, through use of structured questionna
describe scitovosky''s double criterion
a) Examine at least three (3) possible areas for the industry that could lead to transaction costs, and describe each in detail. b) Speculate about the behaviour that could
what is the theory of Second best? Prove the theorem with the help of a diagram.
Why might economic growth not be compatible with sustainable development? Define economic growth; enhance in national income during a time period. Explain sustainable developme
Regardless of the market structure, oligopolist and the monopolist maximize their TR when MR=0. Do you agree?
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