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1 explain the hotelling principle 2 explain the four common

1. Explain the Hotelling principle?

2. Explain the four common features of all games?

3. How do Pigovan taxes works?

4. What does a Lorenz curve show?

5. What do we call the magnitude of the slope of an indifference curve?

6. What is the total revenue test? Explain how it works.

7. What comparison can you make about a firm operating as a perfectly competitive and as a monopoly.Identify at least 7 characteristics of both market structures?

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