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It refers to the study of feasibility of a project in terms of its total economic cost and total economic advantages.
It means to compare total cost with total advantage if we add external cost with private cost, its known as total social cost if we add external advantage with private benefit, known as total social benefit.
In 2007, the potato chip industry in the Northwest was competitively structured and in long-run competitive equilibrium; firms were earning a normal rate of return and were competi
For you and other Mexican farmer-ranchers rice is a substitute good for corn as basic food stuff for human consumption. If the market price for feed corn and rice were the same bef
Compared with the situation before 1981, the marginal tax rates imposed on individuals and families with high incomes are now lower. What was the top marginal personal income tax r
Consider the following simple economy which consists of two industries, guns (1) and butter (2) and is characterized by the following input-output matrix. Suppose also that
explain the phillips curve the relationship of inflation and unemployment
graph the central equation of the solow model. argue that a steady state exists and that the economy will converge to this point from any initial starting capital stock
1) Why does the adoption of Keynesian economics come out of the Great Depression? 1) Why does the adoption of Keynesian economics come out of the Great Depression? 2) What will ha
At first, Say's Law may seem 'obvious'. Though, it's not - actually, it's highly controversial. The reason it may seem obvious is that you have perhaps learned from microeconomics
Benefits of Regional Integration Most economic experts cite that regional integration permits disadvantaged countries to realize economies of scale, vie on a broader (often gl
Suppose that a paper mill "feeds " a downstream box mill. For the downstream mill, the marginal profitability of producing boxes declines with volume. For example, the first unit o
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