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Question 1:
(a) Use indifference curves to distinguish between income and substitution effects.
(b) Hence, using the above techniques explain why the demand curve slope downwards.
Question 2:
What are the main criteria for designing a tax system? To what extent do you think the national residential property tax meet these criteria?
Question 3:
(a) What are externalities? A dyeing unit of a textile firm discharges effluents in the lagoon, polluting the water, adversely affecting a nearby hotel resort, fishermen and the community at large. Illustrate graphically why this problem results in a departure from a perfectly competitive market.
(b) What conclusions can be drawn about market allocations?
Your financial advisor has recommended that you invest into your Roth Individual Retirement Account (Roth IRA) the sum of $5,000. If you put in $5,000 today, what will this investm
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relevance to business owners, employees and public?
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Master budgeting Jaya Sdn. Bhd. is a wholesaler. The management of Jaya Sdn. Bhd. has been extremely worried about the company''s cash position over the last few years. In July 201
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