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Q. Describe the Public Utility Monopoly?
Public Utility Monopoly: Governmental authorities seize complete management and control of some utilities to protect social interests. For illustrationtelegraph andposts, electric power, telephones, provision of water, railway transport, are monopolies of government and local authorities. There can be private monopolies of public utility services.
Inelastic Supply Supply is said to be price inelastic if changes in price bring about changes in quantity supplied in less proportion. Thus, when price increases quantity sup
Green Shield Insurance gives NEMO Corporation with coverage for prescriptions, dental work, and extended health services. Every subscriber uses $435 worth of dental services per ye
Q. Relation between average cost and marginal cost? Relationship between MC and AC are the following: If MC is below AC then AC should be falling. This is because, if MC
how much output should a firm produce? 80$ per unit C(Q)=40+8Q+2Qsquared
Cross-elasticity is the measure of responsiveness of demand for a commodity to the changes in price of its substitutes and complementary goods. For example, cross-elasticity of dem
what is the theory of firm?
explain the role of managerial economist
Frank H. Knight treated profit as a residual return to uncertainly profit. Obviously knight made a distinction between risk and uncertainly he divided risk into calculable and non-
Determinants of the money supply Two extreme situations are imaginable. In the first situation, the money supply can be determined at exactly the amount decided on by the Cen
State the Basis of business policies Managerial economics is the founding principle of business policies. Business policies are prepared based on studies and findings of manage
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