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Tastes of the buyer must not alter
Any alteration which takes place in the taste of consumers will in all probability thwart the working of the law of demand. It frequently happens that when fashions or tastes change people revise their preferences. As a consequence, demand for the commodity that goes down the preference scale of the consumers declines even though its price doesn't change.
THE KEYNESIAN THEORY OF CONSUMPTION FUNCTION The theory was developed during the Great Depression which plagued Europe and America. During this time, there was excess capacit
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 u
Question 1: (a) Briefly explain and distinguish between a centrally planned, laissez-faire and mixed economy. (b) According to you, which kind of economic system is most d
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Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
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Q. Explain about Long run production function? Long run is a phase adequately long so that all factors together with capital can be changed. The factors that can be increase
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find out the characterstics of national stock exchange
Determine the Market demand curve Market demand curve is the horizontal summation of individual demand curves. The individual demand schedules plotted graphically and summed up
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