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The efficiency loss of a tax is the tax revenue collected by government minus the value of the public goods financed through the tax. Why is this false?
Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable
causes for emergency of monopoly
Do the laws of economics still work today? use the case discussed in class to answer this question or any other examples) (ii) Provide examples of three factors that can shift the
what is price elasticity of demand ? write briefly with explaining it''s type.
Two people are engaged in a joint project. If each person i puts in the effort xi, the outcome of the project is worth f(x1, x2). Each person’s effort level xi is a number between
Assuming the Heckscher-Ohlin model is true. Suppose the Cuba and Russia sign a free trade agreement. Furthermore, assume the Cuba and Russia only produce cigars and vodka. Russia h
A firms total cost function is TC=0.0006*X^3-0.086*X^2+4.8*X+25 and its total revenue function is TR=2.5*X find its profit function
Market Demand Market Demand Curves - A curve which relates the quantity of a good that all the consumers in a market buy to price of that good. Determining Market Demand
(Cost minimization) a) What are the expressions for the marginal product of every of the two inputs in producing credit hours? b) What is the expression for the marginal r
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