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What are the two main forms of economic distribution? What is the difference between them?
The two major forms of economic distribution are exchange and transfer. Exchange includes a two-way distribution, trading one thing for another, whereas a transfer includes a one-way distribution, giving something with nothing specific expected in return.
how is price and output equilibrium determined in Williamson''s model of managerial discretion?
Transfer Payments: Governments typically redistribute a share of tax revenues back to specified groups of individuals in form of several social programs (like welfare benefits, pub
Due April 8 a) Produce some initial summary statistics of the data. b) State the hypotheses that will be tested. Show me advanced results (analyses, not write-up/paper) Due April
define economics in plural sense. .
Could I have examples of syndicated and organized oligopolies with companies as examples
describe scitovosky''s double criterion
Attitude towards Risk: Let's assume the following: The utility function • has the single argument "wealth" measured in monetary units, • is strictly increasing, and
Mathematical Presentation of Utility maximisation: Consumer's objective is to maximise her utility by solving UMP. To solve UMP, we set the Lagrange function of the correspond
firm''s product sells for Rs.200 per unit in a highly competitive market. The firm produces output using capital (which it rents at Rs.7500 per hour) and labor (which is paid a wag
Consider an economy with high innovative potential, but where saving is insufficient to fund innovative investments. Use Garrison's capital-based macroeconomics to explain how more
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