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What are the costs and difficulties of such an operation?
The direct costs are administrative, cooperative and storage costs, whereas the societal costs include misallocation, oversupply and waste. Buffer stocks have been increasingly abandoned for a number of reasons, mainly dealing with costs, political pressure, large unwanted stocks and enhancing criticism of the bad incentive effect perpetuating oversupply of goods.
Demonstrate mathematically that the equilibrium condition MRS PB PA is the equivalent of the utility-maximizing rule MU AP A MU B PB .
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
Illustrate the roles of mathematics in modern economics? Roles of Mathematics in Modern Economics: Mathematics has become a significant tool into modern economics. Mostly
1. Sam Smith owns an internet radio company that has subscribers in Houston and Dallas. The demand functions for the 2 markets are: Q(Houston) = 50-0.35P(Dallas) Q(Dallas) = 80-0.
Question 1: ? deduce the causal factors behind technological developments in different cultures and during different periods of human history ? assess the basis of common cr
Current Account Deficit (CAD): Boon or Bane The general belief is that high CADs are dangerous. In general, this is correct. But the converse that low CADs are good is not. A
A firm in a perfectly competitive product market takes the price of the product as given. Similarly, a firm in a perfectly competitive factor market takes the price of the factor
negative slope on ppf represents what?
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
Positive versus Normative Economics Positive Economics Positive economics considers with the predictions or observations of the particulars of economic life. For instance:
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