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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 exit from the industry.All firms produce homogeneous product and all market participants (buyers and seller) have full knowledge of the situation in the market, especially about the present price and location of the product.
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in terms of pr
Moving Average Methods: Under this methods the moving average to the sales of the past years is computed. The computed moving average is taken as forecast for the next year or peri
#questioSuppose the US and Mexico both produce semiconductors and auto parts and the US has a comparative advantage in semiconductors while Mexico has a comparative advantage in au
a. Generally, there will be a difference between the CV and the EV. Why? b. The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it
In this section, we ask you to write down a simple, formal, mathematical model. A small number of points will be awarded for an intuitive discussion of the problem, but most of the
Discuss the costs and benefits of establishing a common currency. So, there is a convergence issue in setting up the common currency - and there will also be a convergence prob
Consider the following linear program in primal form and develop the dual formulation in a detailed manner. Use matrix notation in developing the dual. Clearly express all the dual
Why is it so difficult for government to achieve all macro objectives simultaneously? Specifically showing possible trade-offs i.e. a) Stimulatory policies which enhance AD
defin giffen goods?
Establish relationship between production and cost for a firm operation in perfect competition market in case of i phone
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