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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.
Equilibrium and Disequilibrium in the Balance of Payments If on the current account , the value of exports is equal to the value of imports, the balance of payments is said t
Q. Types of production function? Production function is of two different forms: The variable proportion production function The fixed proportion production functio
WRITE A NOTE ON BREAK -EVEN ANALYSIS IN PROFIT MANAGEMENT
Marginal Revenue (MR) This is the increase in Total Revenue resulting from the sale of an extra unit of output. Thus, if TR n-1 is Total Revenue from the sale of (n-1) units
How does economic theory contribute to managerial decisions
ECONOMIC EFFECTS OF TAXATION a. A deterrent to work Heavy direct taxation, especially when closely linked to current earnings, can act as a serious check to production
how to solve problems using derivatives ?
encrimetal concepts
Balance of Payments Perhaps the most immediate reason for bringing in protection is a balance of payment deficit. If a country had a persistent deficit in its balance of paym
Using the CD data estimate a quadratic cost function. Test the hypothesis that there is diminishing marginal cost. Be sure to state what critical value you are using. Then, using t
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