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Is it possible for a firm to be both Price taker and price maker?
A firm can either be a price taker or a price maker. It cannot be price maker and price taker at the similar time because when a firm will set its own price in the market for its good. At that time, it will be a price maker not a price taker.
What is the theory of Second Best? Prove the theorem with the help of a diagram.
1)The productive capability of an economy is such that to produce 5 units of military good it takes 2 workers to be employed while 10 units of consumer goods require 3 workers. Res
Environmental pollution may be eloborate as the contamination of the environment, with harmful wastes arising mainly from human activities. All these activities release certain m
the definition of exceptional supply curve
Why and how are economists attempting to create more accurate measurements of development? The why part is simply because of the complexities built-in to the concept of develop
#question.contrast the long run equilibrium position of monopolistic competition firm and oligopoly.
Structural Unemployment: This is unemployment resulting from changes in the pattern of demand for goods and services or changes in technology.These changes may in turn alter
Why government cannot print new currency to pay the debts? When there is deficiency of internal resources then government borrow. Government can borrow either from central ban
Meaning of absolute cost difference and comparative cost difference.
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