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Discuss some of the effects of the economic downturn on supply, demand, inferior goods, complimentary goods, substitute goods, and price. words accepted#
PRODUCT DIFFERENTIATION Product differentiation describes a situation in which there is a single product being manufactured by several suppliers, and the product of each su
A firm can produce steel with or without a filter on its smokestack. If it produces without a filter, the external costs on the community are $500,000 per year. If it produces with
Q. What is Marginal cost curve? MC curve is also 'U' shaped as in Figure below. Marginal cost curve falls initially but then reaches a minimum point and lastly rises. Shape of
Explaination of the Marris Model
Paper Money Due to the risk of theft, members of the public who owned such metal money would deposit them for safe keeping with goldsmiths and other reliable merchants who
Q. What is Transport and Storage Economies? As the output increases, unit cost of transportation of raw materials, intermediate products and finished products fall. This is for
CAPITAL ACCOUNT This records all transactions arising from capital movements into and out of the country. There are a variety of such capital flows recorded, namely: i.
If a firm's organisational characteristics have not any implications for its behaviour or more possibly have implications that can be taken into account without adopting a behaviou
Q. Define Profit maximisation theory? Profit maximisation theory defines that firms (corporations orcompanies) will establish factories where they see potential to achieve the
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