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Price elasticity of supply:
It is the responsiveness of quantity supplied of a commodity to a change in the price of the commodity and measured as percentage change in quantity supplied divided by percentage change in the market price of the commodity. That is:
The most fundamental economic problem is scarcity.
Mathematical Derivation of ordinary demand function: Here we present the mathematical and more general proof of the above result. Consider, again, the initial price income sit
Factors Shifting Demand Curve -
Ask qdescribe average and marginal revenue under imperfect competitionuestion
What is Hybridization? Atomic orbitals can be combined, in a process called hybridization in chemistry , to describe the bonding in polyatomic molecules. Descriptions of the b
bain''s model of limit pricing with diagram
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1. Cost minimizing firms must be profit maximizing as well. False, why??
Natural Rate of Unemployment: According to neoclassical economics, wage rate is determined by a process of labour-market clearing (in which employers and workers compete with each
Advocacy of Globalisation: In support of the movement for globalisation, the following arguments are put forth: i) Globalisation promotes foreign direct investment and, thu
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