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Problem 1:
(a) Differentiate between positive and negative externalities? Justify your answer using examples.
(b) To what extent do government policies influence externality?
Problem 2:
(a) Explain how in economic theory a perfectly competitive firm determines price and output in the long run.
(b) ‘A monopolist is inefficient as compared to a perfectly competitive firm'. Discuss.
cars:0,2,4,6,8 tow truck:30,27,21,12,0
compare the concept of MRTS with the MRS and discuss the similarities and difference between them?
what is the influence of an increase of migrants on the market supply labour
#questThe demand for and supply of labour in a certain industry are given by the equations Nd = 400 - 2w Ns = 240 + 2w Where Nd ( is the number of workers employers want to hire
the basic circular flow model suggests that...
Fixed costs are those which are independent of output that is they do not change with changes in output. These costs are a fixed amount which must be incurred by a firm in the shor
why is choice inevitable in the understanding of economics science?
The circular flow diagram is used to represent the interdependence that exists between sectors of the economy. The diagram illustrates that there are various collections of same e
Determinants of investments: Expected Rate of Return: Investment spending is guided by the profit motive; thebusiness sector buys capital goods only when it expects such
argument against in favour of traditonel theory profit maximisation
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