Economic
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Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good. Answer:
Why producers not be able to find enough paying buyers for “public goods”?
Industries that are described as "contestable": (w) will experience long-run economic profits equal to zero. (x) are difficult for firms to enter, but not to exit. (y) are difficult for firms to exit, but not to enter. (z) will charge prices greater t
Importance of Economics:Economics has become one of the major branches of social sciences. This is of enormous practical value in our day by day life. In pure sciences, we study the subject
Explain the cause of Trade barriers?
Give brief introduction of the term capital structure? And also write down its principles?
What are economic resources? What are the major functions of the entrepreneur?
The advocates of laissez-faire policies favor: (i) Govt. control of economy. (ii) Public ownership of all the resources. (iii) Income to be distributed according to requirement. (iv) Surpluses in the balance of trade. (v) Minimal govt. intervention in economy.
Illustrate the Optimal or best product-mix and also Law of increasing opportunity costs?
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