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What are the essential conditions for perfect completion?
Two essential conditions for perfect competition are as given below:
a. Various producers, none of whom have a huge market share.
b. An industry can be perfectly competitive merely when consumers regard the products of all producers as the same (standardized product).
Suppose that the government is the only provider of water. The market demand function reads D: Q(P) = 50 - 2P. The government''s total cost for producing water are described as fol
To what extent has the IMF achieved its objectives? The objective of achieving full convertibility of currencies has not been achieved. In the first place countries impose re
'' monopoly is good for consumer welfare" is this crrect
p=10, TC= 1000+2Q+.01Q^2, Q=?
The optimum output and price level is always determined with the concepts of revenue and costs-the difference in joint or independent production will show in the differences in cos
Problem 1: a) Explain what is meant by ‘price discrimination' and what are the different types of price discrimination. b) Under what conditions is it possible and profitabl
Question 1: 1 Explain the importance of barriers to entry in the control of Monopoly rents. 2 Discuss the extent to which competition leads to market promotion? Questi
what is the goal of firm
Definition of Elasticity Is defined as the ratio of the relative change of one (dependent) variable to changes in another (independent) variable, or it's a percentage change o
show diferent auothers
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