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Firm and industry supply schedules The plan or table of possible quantities that will be offered for sale at different prices by individual firms for a commodity is called su
definition of total revenue,marginal revenue,average revenue
Define Williamson''s Model of Managerial Discretion practice?
Q. What is Marketing Economies? They are allied with selling of the product of the firm. They arise from advertising economies. Because advertising expenses increase less than
Reasons for Shift in Demand Curve Shifts in a price-demand curve may occur due to the change in one or more of other determinants of demand. Consider, for illustration, decreas
Frank H. Knight treated profit as a residual return to uncertainly profit. Obviously knight made a distinction between risk and uncertainly he divided risk into calculable and non-
Market Structures This refers to the nature and degree of competition within a particular market. Capitalist economies are characterised by a large range of different market
State about Production theory Production theory assists in determining the size of firm and level of production. It clarifies the relationship between marginal and average cost
calculate point elasticity of demand for demand function q=10-2p for decrease in price from rs 3 to rs 2
Using Total Expenditure for Calculating National Income The expenditure approach centres on the components of final demand which generate production. It thus measures GDP
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