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1). Define and explain the concept of an externality. Provide examples of both positive and a negative externality. 2). The Prisoner's Dilemma Exercise:
#what is exceptional supply curve
What does economic theory contribute to managerial economics? Explain
differentiate between normative and positive statements in economics with the help of a statement
Clearly explain the distinction between supply, demand and equilibrium price.
Solve equation P=200-Qs and Qs=4.5p +5
williomson''s model of managerial discretion
Perfect competition: The behaviours of firms in perfect competition. It should be noted that firms that fit into perfect competition model are very rare in real-life situation
Suppose that there is a credit market imperfection because of limited commitment. As in the setup with collateralized wealth, each consumer has a component of wealth which has valu
its elements , scope calculation
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