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What is Cyert and March's behavior theory? What are the demerits.
define equi marginal principle
Q. Loss at the point of equilibrium? Losses: At the point of equilibrium i.e. E where MR = MC, firm produces OM amount of the output. To produce this output, firm incurs an a
howw much should the firm produce to maximize its profits
What is an effective need of demand 1. An Effective Need: Effective need demands that there must be a need supported by the capacity and readiness to shell out. Henceforth there
Indifference curves In order to explain indifference curves, we will again make the simplifying assumption that the consumer buys two goods, x and y. The table below gives
Features of this system The mixed economy includes elements of both market and planned economies. The government operates and controls the public sector, which typically cons
if Q=120-2p is the equation for demand curve, find the compounding total, marginal and average revenue function
You own a pharmaceutical company that is specialized in the manufacture of medicine for smokers. You newly patented an innovative drug called Clealung, which drastically reduces th
What is Managerial economics according to McGutgan and Moye McGutgan and Moyer: "Managerial economics is the application of economic theory and methodology to decision-making
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