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1).Explain a coordination failure. Using the Prisoner's Dilemma example above, discuss coordination failure.
2). What's a Market Failure? Please define the circumstances under which market failures occur. Give specific examples of market failures.
How does the GPI adjust for increasing U.S. income inequality? Starting with the category of Personal Consumption Expenditures, the GPI adjusts for enhancing income inequality
An economics branch which keep concentrate on illumination the economic decisions people make in practice, particularly when these conflict with what conventional economic theory p
What is market clearing level and public good? Market clearing level is the price level current in the market at which consumer is willing to purchase a particular commodity f
In the purely competitive analysis, there were two dissimilar models, one model for the industry, in which the interaction of supply and demand recognized the market price and quan
what is oxidizing agent
Risk Loving - A person is a risk loving if they show a preference toward the uncertain income over a certain income having same expected value. Examples: Gambling, some
Which element of the periodic table has the most characteristics and is used in everyday life?
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What is meant by labor force? In economics the labor force is the group of people who have a potential for being employed. Normally, the labor force having of everyone above
what is the application of consumer surplus
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