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Demand is defined as a schedule of the quantities fo good that will be purchased at various prices similarly the supply refers to the schedule of the quantities of a good that will be offered for sale at various prices. To be more correct supply of commodity is the schedule of the quantities of a commodity that would be offered for sale at all possible price during a period of time for example a day a week a month and so on.Supply should be carefully distinguished from stock is the total volume of a commodity which can be brought into the market for sale at a short notice and supply means the quantity which is actually brought in the market. For perishable commodities like fish and fruits supply’ and stock are the same because whatever is in stock must be disposed of. The commodities which are no perishable can be held back if prices are not favorable. If the price is high larger quantities of non-perishable commodities are offered by the sellers from their stock. And if the price is low only small quantities are brought out for sale in short stock is potential supply.
Calculate the price elasticity of demand or supply for the following function when P=8 p=6(I)p=40-0.5q
Average product of a factor is the total output produced per unit of the factor employed thus, Average product = total product / number of units of factor employed If Q stand
the basic circular flow model suggests that...
LONG PERIOD ANALYSIS: Long period refers to a time when all the factors are variable. Earlier in the short period analysis, we had considered capital (K) to be fixed factor. H
Which of the following is a free good? Fresh water, forests in the northwestern United States, the advice of economists, or none of the above?
Labour Supply:Total number of workers available and willing to work in a paid position; generally measured by the labour force(even though the labour force usually excludes many wo
Communications: Noting the importance of improved communications in increasing productivity and welfare, the New Telecom Policy (NTP) was introduced in 1999. NTP 99 was aimed
Poverty: A state of having inadequate income or other resources to support a household (or group of households) at a basic standard of living. Poverty can be measured in absoluterr
advantage dis advantage of pure monopoly
i want an application on indifference curve of a specific firm? can i get it easily?
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