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In a model where a continuum of individuals have preferences for consumption and leisure as follows
wi = ci + ln(xi)
and individuals differ in their labour endowments ei, suppose two candidates run for office and offer a platform of imposing a proportional tax rate τ to finance lump sum transfers uniformly to all the population.
Where the planner maximizes the average individual's welfare. Are taxes higher or lower at the median voter solution? Why?
What are the factors of the economic sectors? The factors of the economic sectors: • Primary sector including natural resources as like agriculture, fishing, quarrying minin
explain why each of the following factors influence the own price elasticity of demand for a comodity 1. Consumer preferences 2. the narrowness of definiton of the commodity
First-in First-out Method (FIFO) A technique of inventory valuation based on the concept that merchandise is sold in the order of its acknowledgment. In other words, if an elec
Question: (a) Assume that a market is in equilibrium and all investors agree that the return on any diversified portfolio P is equal to R P = a p + b p 1 F 1 + bp 2 F 2
despite of pitfalls forecastimg is indispensable to a business firm.discuss the importance of forecasting in light of this statment
Write a book review of a book of your choice (chosen from the list of course reference literature) by either Joseph A. Schumpeter or Israel Kirzner about entrepreneurship and macro
Case study CORN is now struggling to keep up with demand. With corn supplies the tightest they have been since the mid-1990s, prices have risen substantially and are holding a
1. Imagine that two countries, Richland and Poorland can produce just two goods, computers and coal. Assume that for a given amount of land and capital, the output of these two pro
the basic assumption of the static model
Identify the features of informal sector in African countries
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