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1. What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities? 2. What are
In the long-run equilibrium, each firm in a perfectly competitive industry will choose the plant size associated with minimum long-run average cost. Is this TRUE or FALSE? And why?
Suppose that Congress increases the minimum wage to $10 an hour. a. Use a supply and demand model for unskilled labor to show the effect on the number of unskilled workers employed
Consider a consumer with the following Cobb-Douglass utility function: U (x, y) = x α y 1-α a) Find the Marshallian Demand for both goods. b) Find the Price Elasticit
Changing the Surveillance Framework: Part of the challenge entails reorienting surveillance, the process through which the BW institutions policy advice is delivered, to make
i want to know that ,wheather lithium iodide can be used as redox electrolyte? and acetonitrile canbe used as redox electrolyte? ehich is more efficient?n..
If demand goes down what happens to the equilibrium?
About four years ago, Kanye West performed at the UIC Pavilion. General admission tickets were priced at $30. Concert promoters say that price elasticity of demand for general admi
Explain how Keynesian economics views the role of markets and government intervention in fighting business cycles. Keynesian economics believes markets frequently fail and gov
explaination of quasi rent theory
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