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Cross-elasticity is the measure of responsiveness of demand for a commodity to the changes in price of its substitutes and complementary goods. For example, cross-elasticity of dem
Q. What is Monopoly? The term 'Monopoly' has been derivative of Greek term 'Monopolies' that means a single seller. So, monopoly is a market condition in that there is a single
different types of markets and role in managerial economics
The Social Cost of Unemployment i. For the individual, there is the demoralizing effect which can be devastating particularly when they are old. This is because as some
Q. Show the method of production? A process or method of production is a combination of inputs essential for the production of output. A method of production is technically eff
explain critically growth maximisation model of morris ?
Using the National Output for Calculating National Income A final method which is more direct is the "output method" or the value added approach . This involves adding up
National Income National Income is a measure of the money value of goods and services becoming available to a nation from economic activities. It can also be defined as the to
Economies and diseconomies of scale are of two types- external andinternal. Internal economies and diseconomies are those which a firm reaps as a result of its own expansion. Conve
In regards to air pollution, use a diagram to show and explain how the existence of pollution can make the market equilibrium inefficient.
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