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Perfect competition: Perfect completion refers to the market structure in which there are a large number of relatively small firms, each firm having freedom of entry into and
Long run equilibrium - Perfect competition: In the long-run, on the other hand, the firm in perfect competition is making normal profit or zero economic profit as shown in Fig
We discussed why economists prefer to use available statistics and econometric techniques over other means of measuring consumer demand. Write a short essay describing a situation
sylos labini model of limit price
Let {(y i ; x i ); 1 ≤ i ≤ n} be an i.i.d sequence of random variables where yi and xi satisfy the linear relationship y i = β 0 + β 1 x i + ∈ i with Cov(x i ; ∈ i ) = 0
Workers' Co-operative: Another form of privatisation is transfer ofownership of a loss-making concern to the workers. Mr. R. Ganpati, formerChairman of the Board of Industria
what are the tools for decision making
The Value of Title Insurance While Buying a House * A Scenario: - Price of house is $200,000 - 5% chance that seller does not own house * Risk neutral buyer would pa
Suppose one were asked to recommend a price for the output of a proposed downtown parking garage, so that the project would have as large a Net Present Value as possible. In this
what will cause a firms demand curve to shift: a a change in sellers profit associated with the good or service b change in technology for good cchange in non price variable in dem
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