Spending on rail safety
‘How be supposed to the government decide whether to spend in additional rail safety measures?’
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Consider the significance of marginality and opportunity cost in answering such questions in welfare economics.
HoloIMAGine has patented a holographic technology which makes 3-D photography obtainable to consumers. So the demand curve facing HoloIMAGine has unitary price elasticity at: (i) output q1. (ii) output q3. (iii) output q4
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‘In developing countries there are some controls on aspects of pollution like exhaust fumes. How would you evaluate whether these countries, from their point of view, must invoke legislation to enhance the atmosphere in these respects?’
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