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describe returns to scale and give examples of each.
explain normal profits and abnormal profits
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Pure Monopoly: Pure monopoly examined the market structure that is generally regarded as the polar opposite of perfect competition – i.e. the monopoly model. Like the perfect
Define Nash equilibrium and explain with the help of the game ''prisoner''s dilemma''.
BALANCE OF PAYMENTS AND PROBLEM OF DEFICITS: The principal tool for the analysis of the monetary aspects of international trade is the balance of international payments set
concept of narrowness in pure economics
implication tructures of various market structures for price determination
Closesubstitute goods: The number of closesubstitute goods The more substitutes of good has and the more close the substitutes are, the more elastic the demand for the good. Fo
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