Are developing country cities too large, too small, or about right in size? Justify your answer with evidence from developing economies
What will be an ideal response?
Too large. Cities are capital intensive, the largest cities are increasingly found in the developing countries, and there are many urban biases causing the distortion.
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Suppose the price of a scooter is $200 and Cora Lee is willing to pay $250. Cora Lee's
A) consumer surplus from that scooter is $200. B) consumer surplus from that scooter is $50. C) marginal benefit from that scooter is $100. D) consumer surplus from that scooter is $150. E) consumer surplus from that scooter is $250.
In the following question you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for, or supply (S) of, X; (2) the equilibrium price (P) of X; and (3) the
equilibrium quantity (Q) of X. Refer to the given information. An increase in the price of a product that is a complement to X will: A. decrease S, decrease P, and decrease Q. B. decrease D, decrease P, and decrease Q. C. increase D, increase P, and increase Q. D. increase D, increase P, and decrease Q.
In the labor market, the income and substitution effects work in the same direction.
Answer the following statement true (T) or false (F)
If a tax is placed on perfectly competitive firms that impose external costs on society, the firm's ________ curve will shift up and the industry ________ curve will shift to the left.
A. marginal benefit; supply B. marginal cost; supply C. marginal benefit; demand D. marginal cost; demand