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Gross Domestic Product
A measure of national economic activity, GDP is measured from two approaches. GDP can be viewed as the total value of all goods and services produced in the United States, or as the total value of all payments made to produce all American goods and services. Other measures of GDP exist that take into account inflation factors, so that the adjusted GDP is a more accurate representation of economic activity in the United States in original dollars.
Prediction markets: These are speculative markets fashioned with the intention of making predictions. Assets which are produced possess an ultimate cash worth bound to a specific
explain bain''s limit pricing theory
The Consumption Function The consumption function is the relationship [expressed in mathematical or diagrammatic form] between planned consumption and other independent varia
SHORT-RUN EQUILIBRIUM All firms are assumed to aim at maximizing profits or minimizing losses. The monopolist controls his output or price, but not both. The monopoly maxi
Q. What is Marginal cost curve? MC curve is also 'U' shaped as in Figure below. Marginal cost curve falls initially but then reaches a minimum point and lastly rises. Shape of
determinants of price expectation of elasticity
THE STRUCTURE OF POPULATION AND SUPPLY OF LABOUR The structure (also called age distribution or composition) of population, or the number of people in the different age groups
Methods which rely on quantitative data: Rule-based forecasting Data mining Quantitative analogies Discrete event simulation Neural networks Extrapo
prepare a break-even analysis to determine volume required to cover costs with and without a specified profit target and price.
Explain Managerial economics according to Mote and Paul Haynes, Mote and Paul: "Managerial economics refers to those characteristics of economics and its tools of analysis mos
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