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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?
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discuss which of the cost classification is suitable for LunchBreak LTD and why?
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How to write introduction on strategy plan
Arrival Rates, Service Rates, and Traffic Intensity The (average) arrival rate is the rate of arrival of customers at a queue, and is often denoted by x. If 10 customers arr
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