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1-Explain the difference between accounting and economic profit. What does zero economic profit mean? 2-What is a market failure? Define the two important instances in

1-Explain the difference between accounting and economic profit. What does zero economic profit mean?

2-What is a market failure? Define the two important instances in which market failure can occur.

3-What is the social value of a good include in the presence of positive externality?

4-What is the difference between Index Funds vs. Managed Funds?

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