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why diminish MRS?
1) Lynne's income is £2, 000 and she is risk averse. The probability of someone slipping on her stairs is 1/8. If this happens, she will be sued for £1, 000 and will have to pay th
Before explaining returns to scale it will be instructive to make clear the distinction between change in the scale and changes in factor proportions. The difference between the ch
the sources of market failure
TC = Q3 – 8Q2 + 68Q + 4, get the median and mode
how to estimate a regression model that tests for higher ability individuals get a greater return from schooling
1. Define the concept of opportunity cost in your own words. Given an example from your own life of the opportunity cost of a decision (do NOT use classroom examples). Explain why
Q. What is Benefits transfer? The process of transferring benefit estimates from past valuation studies to the present study, in order to reduce appraisal costs. The validity
differance between capitalism and socialism
how does compensated demand curve help managers?
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