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1. What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities? 2. What are
Labor Productivity - Labor Productivity and Standard of Living - Consumption can increase if productivity increases. - Determinants of Productivity Stock of capit
Returns from Education Monetary benefits from education are called as returns. Such benefits accruing to an individual are called as private returns. The sum of all private re
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Economic Rent - Economic rent is difference between what firms are willing to pay for the input less the minimum amount required to obtain it. * An Example - There are tw
Should the manufacture, supply and use of tobacco be criminalised? Provide arguments for and/or against (relates to defining crime; concepts of deviance etc) Examine t
A bank in a medium-sized midwestern city, Firm X, currently charges $1 per transaction at its ATMs. To determine whether to raise price, the bank managers experimented with a numbe
sources of oligopory
Ask queBrenda owns a construction company that employs bricklayers and other skilled tradesmen. Her firm''s MRP for bricklayers is $22.25 per hour for each of the first seven brick
How might governments use buffer stocks to stabilise prices? Explain/outline a buffer stock scheme in brief as a method for government (in this case) to warehouse (stock) goods
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