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Marginal Revenue (MR)
This is the increase in Total Revenue resulting from the sale of an extra unit of output. Thus, if TRn-1 is Total Revenue from the sale of (n-1) units and TRn is total revenue from the sale of n units, then the marginal revenue of the nth unit is given as:
dTR = P(1 - 1/Ed) or TRn - TRn - 1
dQ
Effectiveness of Trade Unions in Developing Countries Trade Unions in developing countries tend to be less effective in their wage negotiations with employers than their count
Internal and External factors of business operation External factors : A firm can't exercise any control over these factors. Thepolicies, plans and programmes of the firm m
the benefits of exchange in the light of the law of association, the introduction of money in direct exchange and way income gets distributed among market participants
Types of Public Debt Public debts can be classified according to the purpose for which the money was borrowed into; a. Reproductive Debt: where a loan has been
assumptions and limitations
The Mixed Economy There are no economies in the world which are entirely 'market' or planned, all will contain elements of both systems. The degree of mix in any one econom
Theory of consumer behaviour The role of customers in an economy is of significant importance because consumers spend most of their incomes on services and goods produced by fi
Milton Friedman makes the demand for money a function of the real per capital permanent income. in this study the demand function for money is stated as; M/NPP= r( YP/NP) δ W
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Compensatory Financing Two other schemes for alleviating the effects of commodity trade instability have been operating for a number of years. These are the IMF's Compensator
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