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Consumer Surplus
-Difference between maximum amounts a consumer is wishing to pay for a good and amount actually paid.
The stepladder demand curve is converted into a straight line demand curve by making the units of good smaller. Combining consumer surplus with aggregate profits which producers obtain we can evaluate:
1) Benefits and Costs of different market structures
2) Public policies which changes the behavior of consumers and firms
National income: The national income or product or expenditure provides a measure of total value at factor cost of final goods and services, which are available either fo
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Market Penetration: Indian entrepreneurs have to constantly bear in mind the fast changing trade trends and re-orient their strategies to derive higher yields by way of large
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if coast of good A fall by Rs.1 & coast of good B increases by 1 Rs. what will be the effect on budget line
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