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Problem:
i) What do you meant by the term ‘economic efficiency'?
ii) By using appropriate examples differentiate between fixed and variable costs.
iii) Consider different markets explain how a given firm can increase its overall profitability by pure manipulation of its pricing policy?
iv) A perfectly competitive firm is better than a monopolistic firm in terms of economic efficiency. Discuss.
v) Explain the measures governments can use to control monopolies.
Expected Utility: Theory Assume that a utility index exists which conforms to the five axioms. The expected utility for the two-outcome lottery L = (P, A, B) is given by,
Data were taken with a Data Acquisition System (DAQ) and stored in the data file 'data.txt'. 'data.txt' is a text file with 3 columns containing the following data: Column 1: Ti
discuss the trend and composition of national income and per capital income
Lending Operations of World Bank: Resources of the Bank consist of the capital and borrowings. The capital of the bank is contributed by its 184 member-countries. Besides,
Deviation in graph
1. Sam Smith owns an internet radio company that has subscribers in Houston and Dallas. The demand functions for the 2 markets are: Q(Houston) = 50-0.35P(Dallas) Q(Dallas) = 80-0.
What is Game Theory? Game Theory is a mathematical method of decision-making in which a competitive situation is examined to verify the optimal course of action for an interes
Sources of external economies of scale: Economies of Skilled Labour: This involves upgrading the skills of labour through the provision of education and training faci
meaning of opportunity cost under theory of cost
describe scitovosky''s double criterion
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