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Gov should try place monetary value on welfare loss - this may be difficult tax would increase cost of production for firms - they supply less (shown on supply and demand diagram)tax would deter customers...

Expansionary fiscal policies expand aggregate demand (AD) by increasing government spending and/or decreasing income and corporate taxation. As a result, a recessionary (a.k.a. deflationary) gap, which is...

For the long answer questions or 25 markers students should write 2 strong paragraphs with extensive analysis and complete and informed evaluation. On top of this to gain the best marks or to guarantee a ...

First degree discrimination is charging the maximum amount that the consumer is willing to pay for a product. An example for this is auction. Second degree discrimination involves charging different price...

The demand curve describes the quantity of goods and services that consumers are willing and able to purchase at any given price over a given period of time ceteris paribus.
An increase in a consumer...