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Marginal Revenue
Marginal revenue is the additional revenue an organization receives resulting from the sale of one more item of output. Marginal revenue is calculated by taking the difference among the total revenue both previous and after the production of the extra unit. As long as the price of a product or service remains constant, marginal revenue equals price.
Price elasticity of demand The price elasticity of demand is defined as the degree of sensitiveness or responsiveness of demand for a commodity to the changes in its price. Mo
The Determination of the Value Money Since money is primarily a medium of exchange, the value of money means what money will buy. If at one time a certain amount of money
Direct intervention The government can also intervene directly in the economy to see that its wishes are carried out. This can be achieved thorough: a. Price and i
The Current Account This records all transactions involving the exchange of currently produced goods and services and is subdivided into i. Visibles: A record
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the caseabove.
Explain how a product would reach equilibrium position with the help of -iso-quants and iso-cost curve.
INTERNATIONAL TRADE Definition It is the exchange of goods and services between one country and another. International Trade can be in goods, termed visibles or in servi
Classification of oligipoly
Limitations of Uneven Distribution of Income and Wealth Unlike the historical experience of the now developed countries, the rich in contemporary Third World Countries are not
Q. What do you mean by External Economies? External economies arise outside the firm as a result of improvement in industrial environment in that the firm operates. They are ex
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