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Q. Explain Function of Central Bank?
Central Bank: A public financial institution, generally established at the national level and controlled by a national government that sets short-term interest rates, lends money to governments and commercial banks and otherwise oversees the operation of credit system. Some central banks also have responsibility for regulating the activities of private banks and other financial institutions.
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Theories of Chamberlin’s monopolistic competition and Joan Robinson’s imperfect competition have revealed that a firm under monopolistic competition or imperfect competition in lon
Long Run Average Cost (or LAC) -Constant Returns to Scale If the input is doubled, the output will double and average cost is constant at all the levels of output.
Shares: Financial assets that represent ownership of a small proportion of total equity (or net wealth) of a corporation. Shares can be sold and bought on a stock market. Slaver
TRENDS OF NATIONAL INCOME: Estimates relating to India's national income and per capita income are available to us for each of the years beginning 1950-51. These estimates are
prove that marginal utility of x=the price of commodity x.
The cross elasticity of demand calculates the responsiveness of the quantity demanded of one product to alters in the price of another product. For example, the quantity demanded
2 i) Explain what are the key assumptions by the welfarist approach. ii) Define and discuss the properties of a Generalized Utilitarian social welfare function and represent it
SUMMARY OF THEORY OF PRODUCTION
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