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if a monopolist makes economic profits, new firms enter the market and compete with the monopolist in the long run.
introduction of production
Once the organization has decided to move forward with the development of a new or modified system, it is time to determine what tasks are necessary to move the project from initia
what is externalities and market inefficiency
Define International Quota Agreements, • International Quota Agreements seek to prevent fall in commodity prices by regulating their supply. Under the quota agreement export quot
Economic Value to Customer Economic Value to Customer = EVC x = [LifeCycle costs of a competitor's product in relation to a home firm] - [Start-up Costs for the home fir
Explanation
assume you are selling a product and when your price is decreased by 29% your quantity demanded increases by 55%. What is your price elasticity of demand?
Profit: This is surplus left over after a company sells its output and pays off cost of production (which includes raw materials, labour costs and a proportional share of its capit
STRUCTURE OF NATIONAL INCOME: The structure or composition of national income of an economy explains the relative significance of the different producing sectors in an economy
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