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Q. What do you mean by Externality? An externality exists when the actions of one individual affect the wellbeing of other individuals without any compensation taking place. F
what happen when a supply shift to the right on a graph
If coolest icecream parlor has been closing at 5pm with $120 of marginal revenue and $80 of marginal cost for the last hour open, what should coolest icecream do to maximize profit
Individual Demand * The Individual Demand Curve - Two significant Properties of Demand Curves - 1) The level of utility which can be attained changes while moving along
Example of a cost function
Problem: (a) Why is an error term added to a regression and explain its importance in the OLS procedure? (b) Suppose we have a linear equation with a constant term, one expl
causes of market failure and its solutions?
Consumers purchase a house or multiple dwellings for a number of reasons. But what is the rationale behind their decision to buy and/or sell a house, flat or apartment? Do consumer
fig2.3 elaplanition of sales maximisation
LONG PERIOD ANALYSIS: Long period refers to a time when all the factors are variable. Earlier in the short period analysis, we had considered capital (K) to be fixed factor. H
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