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Determine the law of Demand Curve The law of demand can also be presented through a curve known as demand curve. Demand curve is a locus of points showing numerous alterative p
list all profession which generate personal income
Practical Importance of the knowledge of Price Elasticity of demand The practical importance of the measures of elasticity of demand is to be appreciated in various ways:
A firm is employing 100 hours of labor and 50 tons of cement to produce 500 blocks. Labor costs Rs 4 per hour and cement costs Rs 12 per ton. For the quantities employed MPL = 3 an
Goverment Banker, Fiscal Agent and Adviser Central banks in all countries acts as the fiscal agent, banker and adviser on all important financial matters to government of thei
The production function is Q= 20 K0.5 L0.5 Question: For the production function Q= 20 K0.5 L0.5 determine four combinations of capital and labor that will produce 100 and 200 unit
Functions or Purposes of Taxation The functions of taxation can be discussed from the activities of the government it is meant to achieve. These are: a. Raise reven
Merits of direct taxes a. They satisfy the principle of equity as they are easily matched to the tax payers capacity to pay once assessed. b. They satisfy the principles
Factors influencing the supply of a commodity a) Own Price of the commodity There is a direct relationship between quantity supplied and the price so that the hig
Income elasticity of demand The income elasticity of demand measures the degree of responsiveness of the quantity demanded of a product to changes in income. Its co-efficient
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