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Q. Explain about Cardinal utility?
A measure of utility or satisfaction derived from consumption of services and goods which can be measured using an absolute scale. Cardinal utility exists if utility derived from consumption is measurable in the same way that other physical characteristics--weight and height --are measured using a scale which is comparable between people. There is little or no evidence to propose that such measurement is possible and isn't even required for modern consumer demand theory and indifference curve analysis. Cardinal utility though is often used as a convenient teaching device for discussing these concepts as utility maximisation and marginal utility.
Measures to control inflation An inflationary situation can effectively be addressed/tackled if the cause is first and foremost identified. Governments have basically three
Q. Describe MRPL and profit maximisation? The common rule is that firm maximises profit by producing that quantity of output where marginal revenue equals marginal costs. Profi
manual problems solution of demand theory
Case studies and research papers on williamsons model of managerial discretion
find out the characterstics of national stock exchange
To eliminate competition and thereby secure higher prices, firms producing a specific product can come together and make monopoly agreements. These are called as industrial combina
Hayek explaination Under a fractional reserves system, it is possible for the banking system to supply resources to entrepreneurs for investment in excess of resources that are
State the Specific Time of demand Demand should be assigned specific time. For instance, it is an incomplete proclamation to state that demand of air conditioners is 4,000 at t
Q. Explain Supernormal Equilibrium? Supernormal Equilibrium: E is the point of stable equilibrium as MC = MR and MC cuts the MR from below. Figure: Supernormal Equ
Importance of Cross Elasticity Knowledge of cross elasticity is necessary when the government wants to impose a tariff on an imported commodity to protect a domestic industry.
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