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Q. What do you mean by Market Structure?
Market economy pricing is conditioned by market structure. There are various forms of market structures. Perfect competition is accorded great importance as a market structure. As a theoretical mode, neoclassical and classical economists presume conditions of perfect competition.
The market is an assemblage of conditions in that sellers and buyers come in contact for the purpose of exchange. Market situations differ in their structure. Different market structures channel the behaviour of sellers and buyers (firms). Further, different prices and trade volumes are fashioned by different market structures. Again, all types of markets aren't equally efficient in the exploitation of resources and consumers' welfare also differs accordingly. Therefore the aspects of pricing process must be analysed in relation to various types of market.
when firm can achieve optimization
The Social Cost of Unemployment i. For the individual, there is the demoralizing effect which can be devastating particularly when they are old. This is because as some
Q. Relation between average cost and marginal cost? Relationship between MC and AC are the following: If MC is below AC then AC should be falling. This is because, if MC
WHAT ARE THE PRINCIPLES OF MANGERIAL ECONOMICS
Gross Domestic Product A measure of national economic activity, GDP is measured from two approaches. GDP can be viewed as the total value of all goods and services produced in
Stable and Unstable Equilibrium An equilibrium is said to be stable equilibrium when economic forces tend to push the market towards it. In other words, any divergence from t
Reasons for Shift in Demand Curve Shifts in a price-demand curve may occur due to the change in one or more of other determinants of demand. Consider, for illustration, decreas
Investment Investment is the process of increasing the productive capital stock of a country, or can be defined as the production of goods not for immediate consumption. T
CLASSICAL VIEW ON UNEMPLOYMENT The classical economists as we observed in Unit 1 of this course, were of the view that full employment prevailed in the economy all the tim
assumptions and limitations
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