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What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities
How dose PPC help, illustrate the basic economic problem?
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Difficulties in Measuring Cost 1) Output data may represent an aggregate of different type of products. 2) Cost data may not include opportunity cost. 3) Allocating c
implications of varios market structure for price determination
Assume that in the market there exist two types of workers where the principle cannot distinguish types. The two types only differ with respect to the disutility of effort. The dis
how do I determine the profit-maximizing quantity of a firm for different market prices when only given TFC, TVC, and the market price
How to start Economics Introduction assignment?
Point elasticity: It refers to measurement of elasticity on a point On a demand curve. Point elasticity helps in measuring elasticity where change in price and quantity is infinite
Discuss about Modern economic growth Modern economic growth is also a shift in the kinds of things we do at work and play and in the way we live. Back in immediate aftermath of
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