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What is a natural monopoly
Define natural monopoly as a situation where the advantages of scale a fixed costs are so high that it is impossible to fully exploit them. MC and AC should be used to illustrate that a natural monopoly could indeed be better to the competitive market.
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Analyse the strengths and weaknesses of GDP as a measurement. Answer Strengths of GDP as a measurement 1) It helps in making international comparison among different
what are the uses of cross elasticity quantity in demand/
ELASTICITIES OF SUPPLY AND DEMAND Usually, elasticity is a measure of the sensitivity of one variable to the other. It told us the percentage change in one variable in re
Theory of revenue
MRP Technique - Estimating the Level of Output for the Target Year Taking into account several parameters of economic growth such as past trends, present as well as proposed
what is the importance of law of supply
cartels model of collusive oligopoly
An ole firm can use its own data of past years regarding its sales in past years. These data are known as time series of sales. A firm can predict sales of its product by fitting t
The concept of opportunity cost occupies a very important place in modern economic analysis. The opportunity cost of any good is the next best alternative goods that are sacrificed
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