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"price makers" never want to produce in the inelastic part of their demand curve why
We consider two regions A and B. Each market has the same size (i.e. number of consumers) but differs in the willingness to pay for one unit of the good proposed by the firm. On ma
Q. Explain Labour Intensity? Labour Intensity: Ratio of labour effort expended, compared to total on-the-job compensated labour time. A higher ratio of labour intensity reflect
Use of Income elasticity of demand: Income elasticity of demand on the other hand, has the following uses (i) Income elasticity of demand shows how the pattern of consumer de
what is risk diversifications
Define Nash equilibrium
The plant cell when placed under hypertonic medium loses a great quantity of water and its cell membrane detaches from the cell wall. In that situation the cell is known as plasmol
M.Phil. Admission Test, 2017 Economics Model Question Group A Domain Knowledge in Economics Correct answer is as marked in black. Micro Economics 1. Consider a utility function U =
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
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