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THE DETERMINATION OF EQUILIBRIUM NATIONAL INCOME
National income is said to be in equilibrium when there is no tendency for it either to increase or for it to decrease. The actual National Income achieved at that point is referred to as the equilibrium National Income.
For there to be equilibrium, firm spending must be equal to firm's receipts. If this were not the case, the firms will receive less and lose money until there is no more money in the system. Hence, for there to be equilibrium:
Factor Incomes = Consumer Spending
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The aim of monopolist is to maximise profit therefore; he would produce that level of output and charge that price which gives him maximum profits. He would be in equilibrium at th
What are the limitations of managerial ecomimics
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Fall in Supply When the supply falls, the supply curve shifts to the left to position S 1 S 1 . At the initial equilibrium price P 1 , quantity supplied falls from q 1
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Like supermarkets, full-service department stores like Macy's are mainly in decline. What factors may these types of stores have in common behind their declines? How would you veri
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