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Answers are provided when you purchase the pack. Explain why the level of innovation in markets is likely to be less than desirable and discuss the view that innovation should therefore be solely carried out by the government. [25] (a) Explain why the presence of traffic congestion is a source of market failure.
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How does Managerial Economics differ from economics exam?
Exam Question # Q.1. How does Managerial Economics Differ from Economics? Ans. i. Whereas managerial economics involves application of economic principles to the problems of the firm, Economics deals with the body of the principles itself. ii.
Last Update: Oct 2021
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