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Question :
(a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity.
(i) Consumer preferences, that is, whether consumers regard the commodity as a ‘luxury' or a ‘necessity'. (ii) The narrowness of definition of the commodity. (iii) The length of the period under consideration (iv) The availability of substitutes for the commodity
(b) The coffee market is subject to volatility caused by weather conditions in key supplying countries such as Brazil. What other factors are likely to influence this market?
compare and contrast adam smith''s theory of absolute advantage theory and david ricardo''s comparative advantage theory of international trade.
Dynamic Changes in Costs: The Learning Curve
do you think that dimnishing returns to a factor are consistent with increasing returns to scale? explain with suitable diagram and reasoning.
Question 1: (a) Using examples, explain how the theory of Purchasing Power Parity conforms to the Law of One Price. (b) According to you, how best does the Theory of Purchasing
Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commod
How do we measure economic growth and why do we need economic growth? (ii) What can governments do to stimulate economic growth and create jobs? (provide some current examples) (ii
what is the reason behind studing this topic ?
NEED OF REFORMS: Presently Government offices generate a lot of paper work in the form of reports/returns, extended file movement in many cases for clarification of some mino
a) Explain the conditions under which a monopolist is able to price discriminate. b) Demonstrate the relationship between a firm's marginal revenue function and its relationship
This method is also known as Experts opinion methods of investigation. In this method instead of depending upon the opinion of buyers and salesmen firms can obtain views of the spe
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