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Define law of supply.
Quantity supplied rises as price raises, other things constant. In other words, "Other things being equivalent, when the price of a product rises, then sellers tend to supply a large amount of it and when the prices of a product falls, then the sellers tend to supply a smaller amount of it."
How can we identify that something is elastic or inelastic? When demand of any commodity does not change with the change in price of that commodity that item is said by inelas
Q. What do you meant by Progressive Tax? Progressive Tax:Tax is considered progressive if a larger proportionate share of its total burden falls on individual'swith higher avera
How we constract the cost structure of firms
2) Proctor & Gamble (P&G) and the Lever Co. decide to form a laundry detergent cartel for future sales in Europe. Lever is more efficient than P&G. a)illustrate graphically how the
leat cost factor combination
example of cournot model
Periodically, Merrill Lynch surveys its customers to determine customer satisfaction levels. They want to determine the impact of experience on the satisfaction ratings of their co
Tom's pizza sells for $ 5.00 ea and serves an average of 425 customers per week. During a recent sale, Tom lowered the price to $ 4.00 per ea. Sales increased to 500 customers duri
How does planning serve as a solution to economic problems?
Creating Mobile Telephone Infrastructure: The second concept of subsidising the telecom infrastructure required for providing services in rural and remote areas is designed to
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