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How can we identify that something is elastic or inelastic? When demand of any commodity does not change with the change in price of that commodity that item is said by inelas
What is meant by dumping? Dumping is when a producing country dumps goods on foreign markets at a price lower than either the price on the home market or below the cost (HL: ma
What two measures have been developed in recent years that subtract for the depreciation of both manufactured capital and natural capital? The environmentally adjusted Net Dome
what are the variables to be included in the social welfare of a country?
Cost Functions for the Electric Power Sector Scale Economies in the Electric Power Industry Average Cost of Production in Electric Power Industry * Findings -
Efficiency of exchange
Differentiate between firm and industry. A firm is a business unit produced for the purpose of carrying out some kind of trading activity. The term "firm" is used in many ways
As there are natural monopoly market situations it is in the public interestto permit monopolies, but traditionally in the United States they are regulated with respect to price.
SUMMARY OF THEORY OF PRODUCTION
explain why policies for promoting market competition are desireable
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