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Continuity and Regularity:
We should make it a point that once we have entered the market for a particular commodity and have gained some foothold in it, we must strive to maintain this position, notwithstanding constraints of domestic production in some future years. If such a situation arises, we should be ready to sacrifice domestic consumption. Switch-off and switch-on systems do not work in trade. Continuity and regularity are hallmarks of success in international markets. Equally important is for Indian exporters to change their mind-set. Exporters should get dedicated to 'marketing' which is the exchange of 'satisfaction' for money, as distinct from 'trading' which is the exchange of goods for money. The former can be described as sadhana, while the latter is pooja. Marketing needs perseverance.
Consider the market for purple magic markers. The demand for purple magic markers is perfectly elastic and the supply is upward sloping. If sellers of purple magic markers are taxe
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if tc is 200 what will be marginal cost?
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During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
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