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a) Joan's utility function can roughly be estimated as : U = 60Q 1 3/4 Q 2 2/3 She chooses from two composite commodities Q 1 and Q 2 whose prices per unit are kshs 20
Division of Labor The occupation or breaking down of jobs into simple and repetitive responsibilities.
#question.what is elasticity of demand? .
(a) Explain why the Pareto criterion does not provide a complete ordering of the ordinal utility space (b) The competitive equilibrium is the only allocation where the gain
#questionr
how to find total revenue total cost approch in equilibrium firms
excess reserve make a bank less vulnerable to runs.why
What is the theory of second best? Prove the theorem with the help of a diagram
What is a negative externality?
1. The marginal benefit (demand) curve for pollution for an industry is P=100-4*Q, where Q is emissions in tons. The current emissions tax (price) for pollution is $40/ton. Regu
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