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Q. Define the Natural Monopoly?
Natural Monopoly: Natural monopoly is because of natural factors. For illustration, a particular raw material is concentrated at a specific place and this gives rise to monopoly exploitation of such material, for example monopoly of diamond mines in South Africa.
What is the demand function It should be noted that by demand function, economists mean entire functional relationship which is the whole range of price-quantity relationship a
Borrowing Facilities If a country's currency is not convertible, it can borrow from countries whose currencies are convertible and use the convertible currencies to make its i
types of elasticity
THEORY OF COMPARATIVE ADVANTAGE In his theory put forward in a book published in 1817, David Ricardo argued that what was needed for two countries to engage in international t
Q. What do you mean by Market Structure? Market economy pricing is conditioned by market structure. There are various forms of market structures. Perfect competition is accorde
Causes of Inflation At present three main explanations are put forward: cost-push, demand-pull, and monetary. Cost-push inflation occurs when he increasing costs of prod
Is Indian companies running a risk by not giving attention to cost cutting?n..
What is the theory of the firm A firm can be considered an amalgamation of people, financial and physical resources and a variety of information. Firms exist as they perform us
Q. Example on Relationship between marginal and average cost? This relationship between marginal and average cost can easily be recalled with the aid of Fig. below. It can be s
what are the four factors that lead to diseconomies of scale.
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