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Question 1: a. What is the supposed rationale for subsidising higher education in various developing countries? b. Do you think there is a legitimate rationale to the abov
Joe Brown’s dairy operates in a perfectly competitive marketplace. Joe’s machinery costs $500 per day and is the only fixed input. His variable costs are comprised of the wages pai
What determines aggregate demand?
How did fixed exchange rates and the Golden Standard affect the U.S. economy as well as other countries.
What is production with one variable input
Explain about the deadweight loss and elasticities. Deadweight Loss and Elasticities: The common rule for economic policy is the other things equal; you need to select the p
Assume that a shoe salesman learned the price elasticity of demand for her products is -1.5. How many percent will increase in total sales (revenue) if she cuts the price by 10%?
How many hours will an individual allocate to leisure if their indifference curves between consumption goods and leisure are concave to the origin? Show in figures and explain in
Policies for Technological Advance Without better technology, increases in capital stock generated by investment rapidly run into diminishing returns. And without improvements
Over the course of modern American economic history there have been market failures, various social problems, and other complexities that have resulted in certain resource markets
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