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Long run equilibrium - Perfect competition: In the long-run, on the other hand, the firm in perfect competition is making normal profit or zero economic profit as shown in Fig
When there is a positive expected rate of inflation (i.e., an expected and sustained increase in the levels of all prices), the Benefit Cost Ratio of a proposed project will take o
Income and Substitution Effects A fall in price of a good has the two effects: Substitution & Income -Substitution Effect Consumers will tend to buy more of the good
advantages and disadvantages
Q. What is Joint Stock? Joint Stock: A form of business in which company's assets are jointly divided among a large number of different individual owners, each of whom owns a s
Assume that the employer (principle) wants its employee (agent) to work hard [You can safely assume that this maximizes the principle's expected profits from his business]. There a
Explain the role of managerial ecnomist in kissan &dipsy fro ub group
Suppose that you can produce high-quality beef at $3 per pound and sell it for $8 per pound. Low-quality beef costs $1 to produce but only sells for $4 per pound. If quality is uno
Pollutant Any substance, species produced either by a natural source or by human activity, which produces very adverse effect on the environment is called pollutant. Some commo
Figure 3.7 in the above textbook. Using the figure in guide, determine the approximate size of the market surplus or shortage that would exist at a glance of a) $40 b) $20
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