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A public good is good which is non- excludable and non-rival.This means the utility one person gains from the good does not diminish the utility another person may gain from the good. (non-rival)This also...
If a business has low levels of confidence in the economy there will be lower levels of investment and so lower economic growth. This will likely result in economic recession where the economy contracts f...
Firstly, we need to look closely at the exam question and highlight each of the areas of knowledge we need to cover:Define collusionExplain types of collusionDefine oligopolistic market (oligopoly) and of...
A new airline faces enormous startup costs, due to the required purchase or renting of planes, as well as the cost of fuel and landing slots at its chosen destination airports. The air travel industry has...
Changing interest rates are an example of a demand side policy change, specifically monetary policy, this means that the Aggregate Demand (AD) curve will shift (see diagram)This can be demonstrated ...
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