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Category Archives: Microeconomic Theory
The economic theory of public goods is sometimes assumed to be adaptable in a straightforward manner to public bads. Here I consider some implications of the fact that such bads are usually mitigable. Consider a region around an airport, subjected … Continue reading
Presentations of microeconomic analysis often assume linear demand functions, but rarely justify them in terms of utility theory. However it can be done, and without making outrageous assumptions. Originally posted 11/2/2016. Re-posted following site reorganisation 21/6/2016. Run a Google search … Continue reading