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What is the difference between economics and business? Economics is the study of how we, the people, engage ourselves in production, distribution and consumption of goods and
Slope of an Iso-quant: Since along an iso-quant the level of output remains the same, if θL units of θL are substituted for K units of K, the increase in output due to θ L
Sita expects her future earnings to be worth Rs. 100. If she falls ill, her expected future earning will be Rs. 25. There is a belief that she may fall ill with probability of , -
If the average variable cost curve is horizontal, what is the shape of the short-run marginal cost curve? What shape would the short-run average cost curve be?
Monopsony is single buyer of a commodity in the market. The MRP slopes downward in an imperfectly competitive (resource) market serving an not perfectly competitive product mar
GROWTH OF EMPLOYMENT OPPORTUNITIES: Several disquieting features are observed in the Indian labour market over the past two decades particularly during the 1990s. These are di
on what grounds is consumer surplus criticised?
What is ceteris Paribus? Ceteris paribus is a Latin phrase, literally translated as "other things the similar," and usually rendered in English as "all other things being equa
Characteristics of prisoners dilemma
Public-Private Partnerships (PPPs):A form of financing public investment and sometimes the direct provision of public services, in that finance is provided by private investors (in
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