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Point elasticity
The point elasticity of demand is described as the proportionate change in quantity demanded in response to a very small proportionate change in price. The concept of point elasticity is useful where change in price and consequent change in quantity demanded are very small.
Disadvantages of Barter Trade It is impossible to barter unless A has what B wants, and A wants what B has. This is called double coincidence of wants and is difficult t
Assignment
what is profit appropriation
Barriers to entry in pure oligopoly The barriers to entry can be artificial or natural. Artificial Barriers This can be acquired through: State protection throu
Mrs John Robinson- 'Oligopoly is market situation in between monopoly and perfect competition in which the number of sellers is more than one but is not so large that the market pr
Explain about the marginal analysis. The optimal quantity of an activity is the level which produces the maximum probable total net gain. The principle of marginal analysis
In this question you will consider the impact on the building industry of the earthquake. Two construction and materials indices have been provided for the analysis. If your famil
what is the goal of firm
The Social Cost of Unemployment i. For the individual, there is the demoralizing effect which can be devastating particularly when they are old. This is because as some
Policy conflicts In their attempts to achieve the policy objectives, governments often face what are called conflict of objectives. These arise partly because unlike private
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