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what is externalities and market inefficiency
explain how the keynesian cross shows that the economy is susceptible to self-fulfilling prophesies, either positive or negative
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Pure Monopoly: Pure monopoly examined the market structure that is generally regarded as the polar opposite of perfect competition – i.e. the monopoly model. Like the perfect
what is direct utility in micro economics?
assignment
John has a utility function given by U(M) = M0.5, where M represents an amount of cash prize in a game. If John wins, with the probability of 0.2, he will get $900; otherwise, he g
How much does it cost
The Bandwagon Effect - This is desire to be in style, to have a commodity because almost everyone else has it, or to indulge in it. - This is major objective of marketing an
inflation and policies that are used to combat it
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