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Economics 460 MT answer Key Part 2 - Written 1. (5 marks) Sparky has the utility function u = xy2 and a budget constraint M = Pxx + Pyy. For a reviewof the basic theoryof extemailities. 1975. and could be interpretedas shadow prices (LAenberger 1973. The main focus is on pollution and this problem is looked at from many different economic points of view. Early in the history of economics the concept of production was associated with making physical products.
Pages: 202
Publisher: Springer; 2010 edition (December 21, 2009)
ISBN: 9048129524
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