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If the inverse demand curve is p=120-Q and the marginal cost is constant at 10, how does charging the monopoly a specific tax of r=10 per unit affect the monopoly optimum and the w
what does it mean by a normal good ?
describe returns to scale and give examples of each.
What simplifying assumptions does the traditional macroeconomic model make (in addition to those made in the NIPA)? The simplifying assumptions are: 1) The household and i
Analyse the strengths and weaknesses of GDP as a measurement. Answer Strengths of GDP as a measurement 1) It helps in making international comparison among different
Illustrates the key terms of excise tax? Terms of excise tax: a. Tax incidence • Who bears the load of the tax? b. Excess burden or Deadweight loss • Taxes inflict
Floating exchange rates There are two basic systems that can be used to determine the exchange rate between one country's currency and another's: a floating exchange rates (al
Balance of payment: It is an account that summarizes a country’s total payments and total receipts from international economic transactions within a specific period usually on
Neoclassical economics is dominant approach to economics currently taught and practiced in most of the world (and particularly dominant in Anglo-Saxon countries). It attempts to ex
the existance of a labor marketcharacterised by perfect competition is a fallacy.discuss
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