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Question 1:
Compare and contrast between perfect competition and monopoly. Which of the two types of market structures is efficient?
Question 2:
Prepare a short notes on any of the following:
(a) Credit creation (b) The concept of returns to scale (c) Monetary and fiscal policy (d) The income method of calculating national income (e) Substitution and income effect of a price fall of a normal good
Diseconomies of Scale A rises in a firm's cost of producing an additional unit as all another factors of production rising. Diseconomies of scale can be caused by poor and ine
1. Implicit and explicit revenues minus implicit and explicit costs equals: A. accounting profit. B. economic profit. C. zero profit. D. implicit profit. 2. A business owner mak
The Objective Probability - 100 explorations out of which 25 successes and 75 failures - Probability (Pr) of success = 1/4 and probability of failure = ¾ Given: -
summary of general equilibrium
Why do some people believe that a mixed economic system solves basic economic problems? Ans) It is due to the private sector and public sector both have a say in answering the
Stock of durable goods on hand: If the economy has enjoyed an extended period of prosperity, consumers may find themselves well supplied with various durable goods, e.g. cars,
I''m having trouble with this problem.....I must have missed the class that it was discussed in. I''m more confused with the interpreting the equations with all the Labor demand/La
Consider the model of corruption explored by Shleifer and Vishni’s where there is one government-produced good X. There is a demand for that good described by the inverse demand eq
baumol''s theory
Situation is where a luxury is there. There is the snob appeal possibility where the higher the price, the more desired the commodity it. Often people will drive expensive cars, e
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