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Q. Explain Fixed Capital and Flat-Rate Tax?
Fixed Capital: Realcapital which is installed permanently in a specific location, including infrastructure, buildings and major equipment and machinery.
Flat-Rate Tax: a form of income tax in which each taxpayer pays the same rate of tax on their personal income, regardless of their income level. It differs from a progressive tax, in that higher-income individuals pay a higher rate of tax.
This problem continues the analysis from question 2. a.Another economic study finds that the marginal cost (MC) to farmers of nutrient runoff abatement is MC = .1Q. Graph this f
The Budget Line The line BB gives the persons budget constraint. It is described by the linear equation c + wl = w; which can be rewritten as c = w - wl: The budget li
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Slutsky Theorem - Mathematical Presentation: We already know from the first order conditions of utility Maximisation that, where D ij is the co-factor of the ith ro
Question: (a) With reference to the characteristics of market structure, describe why the market for powdered milk in Mauritius is an appropriate example of monopolistic compe
THEORY OF REVEALED PREFERENCE: If consumer's taste and preferences do not change, then observation of her market behaviour or, actual act of choice between the commodity sets
Special Drawing Rights: SDRs are entitlement granted to member countries enabling them to draw from the IMF apart from their quota. It is similar to a bank granting a credit l
why risk averse consumers pay premium for insurance to convert an uncertain outcome to a certain one?
A monopolist''s demand curve is P=100-2q. find his MR function. at what price is MR zero
The main features of outward-oriented and inward-oriented development strategies. Inward- oriented as focus on reducing domestic reliance on imports by executing high barrier
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