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Problem 1: How can a manager of a supermarket maximise total revenue using various concepts of elasticity of demand? Use examples to illustrate. Problem 2: What are the
explain the relationship between ATC,AVC and MC by using diagram
cobb douglas production function?
discuss utility
What is the Adam smith view of "invisible Hand"? Invisible hand is an unknown power which is working for the interest of total economy. In any economy, everybody cares for his
Since 1990, real income has increased rapidly , yet the average number of children per family has decline ." Three possible explanations for this process are given below.
what do you mean by social welfare function
Problem 1: a. Use the circular flow model to explain the concepts of injections and withdrawals. b. Explain the concept of budget multiplier. c. Using the concept of mult
central problems of capitalist economy
Q. What do you mean by Costs? Costs Section 56 of the Environment Act describes costs as including ‘costs to any person and costs to the environment'. The costs of a project a
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