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1). Define and explain the concept of an externality. Provide examples of both positive and a negative externality.
2). The Prisoner's Dilemma Exercise:
B' Strategy
Do Not Advertise
Advertise
A's Profit: $500,000
B's Profit: $500,000
A's Loss: $250,000
B's Profit: $750,000
A's Strategy
A's Profit: $750,000
B's Loss: $250,000
A's Profit: $100,000
B's Profit: $100,000
explaination of quasi rent theory
Question: There is widespread belief that the process of globalization has largely bypassed Sub-Saharan Africa, leaving the sub-continent in a state of marginalization in the w
1. What is the relationship between a firm's total revenue, profit and total cost? Give an example of hypothetical data and draw the curves. 2. Define economies of scale and e
BACKGROUND: You have been promoted to the position of Vice President in a business consulting firm. This firm provides business consulting to a variety of businesses. The presi
explain budget line?
Modern cost curves theory
Your firms production function : Q=4K^1/2L^1/2 Suppose that the price of labor is $5 and the price of capital is $20. Your firm desires to produce 200 units of output. How much
I purchase a used stove for $155 when I was willing to pay $185. If a new stove costs $375,what is my consumer surplus
What are the causes of emergence of monopoly?
homework assignments
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