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Economics of Renewable Resources
Renewable resources are different from exhaustible resources in that the former is regenerated naturally and hence stock need not always decrease whenever harvesting takes place. However, if the harvesting rate far exceeds the natural regeneration rate then it may lead to a situation of stock going below the threshold level so that further regeneration is not possible.
In such instances, further harvesting would lead to extinction of the resources. Examples of renewable resources are
Deductibles and copayments are two common incentive tools in insurance. (a)Explain which informational problems each tool primarily addresses. (b) If only one had to be used, indic
Question 1: "A Policy may be defined as a major course of action within a given environment intended to reach a goal or realize an objective." Give an account of the making
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What are the objectives of pubic finance
An economy has two agents and two goods. Utilities are given by UA=min{xA,0.5yA} and UB=min{xB,0.5yB}. The total amount of X in the economy is 10. The total amount of Y is also 10.
As you know, the principal-agent problem stress the effect of asymmetric information between the principal and the agents on economic outcomes, the equilibrium in a principal-agent
Alice and Bob survive on hamburgers and salads. Aliceís utility function is UA = hA(sA 1) where hA and sA are her consumption of hamburgers and salads respectively. Bobís utility
what could I write for pharigraph 2 on why a bully bullies
Let us now consider a situation in which we know the timing of a change in policy but are unsure about the composition of the future policy. The association of different policy co
what are the strengths and limitations of a pluralist society
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