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What is optimal output rule?
Optimal output rule:
According to the optimal output rule, describe that profit is maximized through producing the quantity of output at that the marginal cost of the final unit produced is equivalent to its marginal revenue.
Explain trend projection method of demand forecasting with illustration.
Q 3. What is Demand Forecasting? Explain in brief various methods of forecasting demand.
Discuss the full cost pricing and marginal cost pricing method. Explain how the two methods differ from each other.
Actual income and Full employment income Full employment income (Also called Potential National) is the national income that could be produced when the country's factors of pr
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Problem 1: The national budget exercise is nothing more than a political exercise. Discuss. Problem 2: a. What do economists mean by the term ‘efficiency'? b. What
Q. What is Marginal cost curve? MC curve is also 'U' shaped as in Figure below. Marginal cost curve falls initially but then reaches a minimum point and lastly rises. Shape of
Discuss the price output determination using profit maximization under perfect competition in the short run.
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