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Open Access Regime
Finally we have the open access situation in which there is no property. Basically, it is a situation where there are no enforceable property rights over the use of the resource. Here, a right of inclusion is granted to anyone who wants to use the resource. Examples of open access resources are fishing in the open sea, river, lake, or ponds, ill-managed village common grazing lands, buffer areas of forests, groundwater, etc.
Open access results from the absence - or breakdown - of a management and authority system whose very purpose was to introduce and enforce a set of norms of behaviour among participants with respect to the natural resource.
using the tools of an indifference curve and isoquent, highlight on consumption and production in business economics.
so this question asks for the deadweight loss if an institution decided to provide this service free of charge. I was wondering if this will achieve the socially efficent level or
Is economics an art or a science
when does a buisness reach shutdown point
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different types of production funtion and curve given by different economist
User Cost of Capital = Economic Depreciation + (Interest Rate)(Value of Capital) - Example An Airline buys Boeing 737 for $150 million with the expected life of 30
How to I calculate the break-even point per unit in dollar amount and then determine whether there will be a profit or loss? Such as if the fixed costs were $75000. The variable co
Average Total Cost (ATC): ATC is the total cost per unit of output. ATC = TC/y = (TFC + TVC)/y = AFC +AVC ATC falls sharply at the beginning of the production process because
illustrate and explain the changing demand for big mac using the indifference curve and budget line
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