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How are the limitations of the economics theory affected? Limitation of Economic Theory: While examining the generality of an economic theory, one must realize any assump
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Uses of price and income elasticity of demand: The concept of price elasticity of demand has some uses whihc include the following: (i) Pricing of goods and services It is
question #Minimum 100 words accepted#History of cobweb theory
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Question 1: (a) Discuss the adjustment to an increase in demand for a perfectly competitive market in the: (i) Short run (ii) Long run (b) How would the same industry
Exercise on Demand, supply and market equilibrium Given the following determinants of demand and supply, briefly explain, using appropriate diagram, the nature of relationships be
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Where minimum efficient scale is very huge for capital intensive operations, it may be more cost effective to allow one company to spread its fixed costs over a very huge number of
What are the factors that determine the volume of production?
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