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Why has it been difficult to produce a single estimate of an environmentally adjusted or "greened" GDP? What are the two approaches that can be used to put a value on environmental assets and services?
Because there is more than one way to put a measure on the value of environmental services. The two approaches to calculate environmental services are the damage cost approach and the maintenance cost approach.
why does gap between the ATC curve and the AVC curve decreases as the level of output increases
1. Isoquants are negatively sloped because if the quantity of factor 1 used in production is decreased then the quantity of the other factor must be increased to produce the s
Q. Describe the Theory of effective demand ? Effective Demand:Theory of effective demand was developed separately in the 1930s by Michal Kalecki andJohn Maynard Keynes. It eluc
Environmental economics goes back to the 19th century. Economists who research the planet are mainly worried with the idea of externalities, rare organic sources, and with the pro
what are some of recent development in theory of demand
Mamun has a weakly income of 600 dollars. Price of chocolate is 5 dollar and price of potato is taka 10. Both are normal goods. Show the income and substitution effect for each of
Conventions as a Basis for Forming Expectations : Since there is little objective basis for probability distributions about future yields, decision-makers have to act on the ba
How might a change in the exchange rate affect the domestic economy of the country? A change in the exchange rate - ceteris paribus - will alter relative prices between trading
Allocation Function The shifting or reallocation of production property into or out of markets based on shifts in prices for the products or services produced in that market.
Problem 1: (a) Differentiate between positive and negative externalities? Justify your answer using examples. (b) To what extent do government policies influence externali
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