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QUESTION:
a) How do returns to scale and returns to factor affect the shapes of the AC in the Long-run and short-run respectively?
b) "Standard of living has to be measured using both monetary and non-monetray measures." Comment on this statement.
c) Explain using diagrams, how is consumer surplus related to the price elasticity of demand?
d) Reducing occupational immobility of labour is the only way of decreasing the level of unemployment. Discuss.
In economic literature policy instrumentation has usually been discussed from normative point of view. In particular, the analytical apparatus of welfare theory is well equipped t
Consider two different consumer-directed health plans. One has a $5000 deductible, with the insurance paying for all care after the deductible has been met. The other has a $2000 d
QUESTION: a) How do returns to scale and returns to factor affect the shapes of the AC in the Long-run and short-run respectively? b) "Standard of living has to be measure
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Q. Who will participate and how decision will be made are issues concerned with Public Choice. Whether participants are guided by social concerns or they harbour their private
3 voters, A, B, and C, will decide by majority rule whether to pass bills on issues X and Y. Every of the two issues will be voted on indiviually. The change in net profits (in dol
For a very large part of 20 th century, we may recall, there existed capitalist market-oriented economies and socialist planning-oriented economies. 21stcentury is however witness
Basic floor plan: There are no security guards on duty at any given time. There are three ATM's on site but none of them can see who comes and goes through the building. Cameras a
This question considers the possibility of foreign aid in exchange for favors. Suppose nation A has RA resources in its treasury and nation B has RB resources. The winning coalitio
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