Externalities, Microeconomics

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What are corrective taxes? Why do economists prefer them to regulations as a way to protect the environment from pollution. Discuss

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Special drawing rights, Special Drawing Rights: SDRs are entitlement g...

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

Long period analysis, LONG PERIOD ANALYSIS: Long period refers to a ti...

LONG PERIOD ANALYSIS: Long period refers to a time when all the factors are variable. Earlier in the short period analysis, we had considered capital (K) to be fixed factor. H

Axioms of consumer preference, determine if completeness and transitivity a...

determine if completeness and transitivity are satisfied for the following preferences defined on x=(x1,x2)and y=(y1,y2);if x>y or x=y and x2>y2,if for min{x1,x2}

Internal and external economies of scale, Internal and external economies o...

Internal and external economies of scale: Internal economies of scale are the advantages or benefits that the firm enjoys as it expands its size or increases its scale of ope

SAC and LAC, What is the explanation for SAC to be tangent to LAC?(In other...

What is the explanation for SAC to be tangent to LAC?(In other words, why must both be tangent to each other)?

Building up a stable and viable export production base, Building up a Stabl...

Building up a Stable and Viable Export Production Base: It is necessary to make a deliberate production plan and to earmark a part of production for export even if there is a

Production, given P=120-Q TC=Q(to the power 2)+ 16 1-derive the total...

given P=120-Q TC=Q(to the power 2)+ 16 1-derive the total revenue function 2-calculate profit mazimization output for a-perfect competitive firm b-monopoly 3-explain whi

Fundamental unit of individual economic behaviour, Households: The fundamen...

Households: The fundamental unit of individual economic behaviour. Households offer labour supply to labour market, make consumer purchases,earn income (from employment and other s

Exchange rate policy, Exchange Rate Policy: LERMS, a dual exchange ra...

Exchange Rate Policy: LERMS, a dual exchange rate system, was introduced in the Budget for 1992-93. Under this system, 40 per cent of foreign exchange earnings were to be sur

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