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How to identify/draw the different types of externalities

On the x-axis we have quantity, on the y-axis (instead of price) we have costs/benefits. For an externality in consumption (positive or negative) the "supply line" is always labelled as marginal pr...
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Answered by Tom P. • Economics tutor
2657 Views

Explain the impact of an increase in oil prices on UK economic growth and inflation.

Initially we are at an equilibrium where AD 1 is equal to SRAS 1 giving rise to a Price Level of PL 1 and a level of Real Output of Y 1 . The increase in oil prices would raise production costs across the ec...
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Answered by Max H. • Economics tutor
8097 Views

What is a Binomial distribution and when, in an exam, should I use it?

The Binomial distribution is a sequence of N trials which each have a probability, p, of occurring. Each trial is either successful (with probability p) or not. It can be used to give us the probability of c...
DB
Answered by Dean B. • Maths tutor
4101 Views

What is the difference between DNA and RNA?

So, to start with what's the same, they are both molecules that are made from a nitrogenous base (Check understanding of term) and a sugar phosphate backbone. Now onto differences, DNA gets its name because ...
RP
Answered by Rob P. • Biology tutor
3197 Views

Imagine a ball rolls off a set of stairs with horizontal velocity, u; the stairs have a height, h and length of l. Find a formula for which step the ball will hit, n.

We set up equations in horizontal and vertical directions assuming constant acceleration due to gravity, g. It is always useful to draw a diagram to see what's going on. Using the SUVAT formula of s = ut + 1...
JB
Answered by Joshua B. • Physics tutor
2432 Views