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Intermediate Products: Products (which includes both services and goods) that aren't produced in order to be consumed, but somewhat are produced in order to be used in the producti
Durability of the Commodity: With some commodities, we require one at a time and they are used for a very long time before they get spoilt. Examples of such goods are cars, tele
Determinants of Short Run Cost - The relationship among the production function and cost can be exemplified by either increasing returns and cost or decreasing returns and cost
In the case of a tax abolition on food staples, what are the short run and long run effects?
a) Joan's utility function can roughly be estimated as : U = 60Q 1 3/4 Q 2 2/3 She chooses from two composite commodities Q 1 and Q 2 whose prices per unit are kshs 20
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le..what was 6th financial planning of india?
Equilibrium is explained as follows: Equilibrium is the state in which there are no shortages and surpluses; or we can say that the quantity demanded is equal to the quantity s
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
Why narrowness of definition of a commodity may influence price elasticity of demand
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