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Firm l's

E ( c2 , 1 ) where C1 < C2 . ... We assume complete information with regards to

the

Firm l's

**marginal**cost is C1 where ci £á ( ci , 1 ) and the**marginal**cost of firm 2 is c2E ( c2 , 1 ) where C1 < C2 . ... We assume complete information with regards to

the

**marginal**costs ; hence , each firm knows the**marginal**cost of the other party ...²Ä 190 ¶

One can further hypothesize that the effect of institutions decreases and that the

institutions build up . When a reasonably well - functioning infrastructure and

institution are ...

One can further hypothesize that the effect of institutions decreases and that the

**marginal**cost of developing institutions increases as infrastructure andinstitutions build up . When a reasonably well - functioning infrastructure and

institution are ...

²Ä 191 ¶

Koester and Koremendi ( 1989 ) suggested a simple method to estimate

aggregate effective

country and used the estimated coefficient of tax revenues as a measure of

effective ...

Koester and Koremendi ( 1989 ) suggested a simple method to estimate

aggregate effective

**marginal**rates . They regressed tax revenue on GDP for eachcountry and used the estimated coefficient of tax revenues as a measure of

effective ...

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heril hanyang ac | 180 |

in collaboration with Asia Pacific | 187 |

ISSN 12264261 | 187 |

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