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Q. Explain General Equilibrium?
General Equilibrium: Neoclassical economics presumes that production, employment, investment and income distribution are all determined by a condition of equilibrium (with demand equalling supply) in each single market (including markets for both factors of production and produced services and goods).
COBWEB MODEL: Concept of dynamic stability: A market equilibrium is said to dynamically stable only when disequilibrium price and quantity move and over time reach to any eq
what is The most important source of oligopoly?
defin giffen goods?
When should a firm shut down production in the short run?
A company a product using labor (L) and raw material (R) with Q = 80L^0.2 R^0.8. If labor costs $20 per hour and raw material $40 per unit, what is the optimal combination (least c
Sita expects her future earnings to be worth Rs 100. If she falls ill, her expected future earning will be Rs 25, There is a belief that she may fall ill 2 with probability of -3
show that the necessary and sufficient conditions for consumer equilibrium under both cardinal and ordinal utility theories are identical .
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How to find quantity supplied given just the price
Monopsony is single buyer of a commodity in the market. The MRP slopes downward in an imperfectly competitive (resource) market serving an not perfectly competitive product mar
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