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What are the basic questions to be answered by economic institution?
Four fundamental questions should be answered by any economic institution as:
a. What goods and services must be produced and in what quantity?
b. How must the product be produced?
c. For whom must this be produced and how must this be distributed?
d. Who makes the decisions?
When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3.
What are the advantages and disadvantages of monopsony?
Determinants of Private Demand - Gender Hypothetically, let us consider a family with two children, a boy and a girl. Let it be that both of them qualify in an entrance exami
Price: The price factor is another important variable to be included in demand analysis. Here one has to consider the prices of the product and also its substitute and complement
What types of external economies generates the output which reduces the costs of the firms in it? The chief example of external economies provided by marshal are (i) improved
Curvature of the Iso-quant: An iso-qunat is convex to the origin. This is so because as more and more units labour are employed, the producer would prefer to give up less and
how to differentiate the exeptional demand and exceptional supply?
When measuring price levels in the economy (such as when calculating the CPI index), why is a weighted average used? Because we require giving greater emphasis to prices at whi
pooling in insurance
Impact of Economic Reforms on Labour: It would be of interest to study the industrial relations scenario in the pre-reform and post-reform period. Data provided in table 8.4 r
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