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What is the difference between indifference curve and isoquants?
An indifference curve shows dissimilar combinations which a consumer can buy with a given level of income. Indifference curve shows behavior of a consumer in consumption. An isoquant shows dissimilar combinations of factors of production which a firm can employ. Isoquant shows behavior of a firm in production.
discuss the implications of various market structures(competitive and non-competitive)for price determination
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Economic Ef ficiency The effort to making products and services in the least costly way without sacrificing excellence.
find the highest premium find the actuarialy fair premium
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