SCC Econ&201 Exam 3 Essays Ch. 16,20,37

SCC Econ&201 Exam 3 Essays Ch. 16,20,37 - What are...

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Microeconomics Exam 3 (Chapters 16, 20, 37) Essays Total 20 Points Please use economics theories you learned from the above chapters to answer in details the following questions: 1. What are negative externalities and positive externalities? How do they affect supply and demand curves? 2. What are the major arguments in the case for income equality?
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Unformatted text preview: What are the major arguments in the case for income inequality? 3. The possibility for gains of trade is due to the fact that different countries face different resources endowments, production costs and geographical locations. Interpret and expand with examples....
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This note was uploaded on 08/10/2010 for the course ASC 102 taught by Professor Johnh during the Spring '10 term at 카이스트, 한국과학기술원.

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