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Q. What do you mean by Externality?
An externality exists when the actions of one individual affect the wellbeing of other individuals without any compensation taking place. For illustration, the discharge of a CSO (combined sewer overflow) will be a negative externality to informal recreational users of a river corridor, to the extent that it will tends to an aesthetic degradation of the river, for which they will not receive any financial compensation. You may also have positive externalities, for example, an industry which uses a better waste treatment process will improve the river quality.
How does the indifference curve and budget line for a neutral good look like?
CROP PATTERNS: Analysis of crop patterns in India should relate to the following aspects: a) The relative significance of different crops/crop groups in the overall area u
what is diversification
Individual Demand * The Individual Demand Curve - Two significant Properties of Demand Curves - 1) The level of utility which can be attained changes while moving along
if the inverse demand curve is p=120-Q and the marginal cost constant at 10, how does the monopoly a specific tax of 10 per unif affect the monopoly optimum and welfare of consumer
Assignments
Determine the economic productivity level Up until 1500 as best we can tell there had been next to no growth in output per worker for the average human for millennia. Even in 1
You are the final voter in a brand new start-up league, the Ultra Fun Foosball League (UFFL). The directors are looking to you to make the decisions on how many teams to place in a
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