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Average Propensity to save
The Average Propensity to Save [APS] is defined as the fraction of aggregate national income which is devoted to savings. Thus if S denotes savings then,
APS = S/Y
In a closed ungoverned economy, where income is spent or saved, APC = APS = 1
Q. Explain Supernormal Equilibrium? Supernormal Equilibrium: E is the point of stable equilibrium as MC = MR and MC cuts the MR from below. Figure: Supernormal Equ
monopolistic competition
In the long run, because of the assumption of free entry and exit of the firms, it's not possible for the firms to make super-normal profits nor it is possible for them to incur lo
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
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Infant Industry Argument Advocates of this maintain that if an industry is just developing, with a good chance of success once it is established and reaping economies of sale,
CENTRAL BANK A modern central bank performs so many functions of different nature that it is difficult to give any brief yet accurate definition of a central bank. Any definiti
Profit maximiZation is theoretically the most sound but practically unattainable objective of business finns. Do you agree this statement? If agree give
State the difficulties in the measurement of profit.
How we can measure Elasticity of demand Though a manager requires an exact measure of this relationship for appropriate business decisions. Elasticity of demand is a measure t
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