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As a consumer increases the consumption of any one commodity, marginal utility of the variable commodity must eventually decline."Illustrate the statement.
Illustrate law of demand .Give reasons demand curve sloping downward?
What is elasticity of demand .How can it be calculated?
Illustrate law of substitution. Give its importance in economics?
Suppose scientists discover that eating soybeans prevents cancer and heart disease
Uses of national income statistics: - It helps to organize economic data and activities. - It helps to classify economic activities into various segments or sectors. - It he
The definition of a price maker is states as “firm with some power to set the price bcoz the demand curve for its output slopes downward”, that in effect, mean those firms with a d
Illustrate the roles of mathematics in modern economics? Roles of Mathematics in Modern Economics: Mathematics has become a significant tool into modern economics. Mostly
given the cost function as C=0.3Q3-2Q2+13Q+25,find the supply function
Explain in detail the concept of PPC with suitable eg.
What population information is needed by local authorities to provide the right number of primary and secondary school places? How would such information affect the plans of the lo
Why might an oligopoly be reluctant to change its price? When some large firms have high total market share and are non-collusive, there is a strong element of interdependency.
What is the classical model's explanation for involuntary unemployment? According to the classical model, involuntary unemployment only increases when there is something impedi
elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
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