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Consumer Surplus
-Difference between maximum amounts a consumer is wishing to pay for a good and amount actually paid.
The stepladder demand curve is converted into a straight line demand curve by making the units of good smaller. Combining consumer surplus with aggregate profits which producers obtain we can evaluate:
1) Benefits and Costs of different market structures
2) Public policies which changes the behavior of consumers and firms
Basics of Theory of demand: The most famous approach in the history of consumer behaviour, after indifference curve approach, is the revealed preference approach. In the revea
Q. Explain about Capacity Utilization? Capacity Utilization: A company or economy's capacity represents maximum amount of output it can produce. Rate of capacity utilization, h
Question: (a) Describe the two major developments which have led in the adoption of Import Substitution Industrialisation by Developing Countries in the 1940s/50s. (b) Ill
a machine cost 18871.00 today. at the end of each year I own the machine & it gives me returns of 4,948.00 after paying repairs and maintenance. After 6 years, I expect to sell it
explain consumer equilibrium diagrammatically as well mathematically by using necessary and sufficient conditions
cartels model of collusive oligopoly
Illustrate about the elasticity of substitution. The Elasticity of Substitution: The technical substitution’s marginal rate measures the slope of an isoquant. As well the el
Q. What is Corporation? A corporation is a form of business established as an independent legal entity, separate from individuals who own it. A main benefit, for owners, of thi
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
my q is dat how can we find mathematically dat a production function is concave?
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