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Long run equilibrium - Perfect competition: In the long-run, on the other hand, the firm in perfect competition is making normal profit or zero economic profit as shown in Fig
Critically examine recent developments in demand theoryon #Minimum 100 words accepted#
what is the theory of second best?prove the theorm with the help of diagram?
Define law of supply. Quantity supplied rises as price raises, other things constant. In other words, "Other things being equivalent, when the price of a product rises, then s
Uses of population census: It is used to determine the size and the growth rate of the population at a country. The helps the government in planning for education, transporta
The question states that a hotel charges $60 a night for a room per night during off peak. This hotel has a fixed cost of $75 per night and variable costs of $40 per night (only ap
Ask question #Minintroduction to recent development in demand theory
Question: (a) Write down the Classical Linear Regression Model (CLRM) and explain its assumptions in detail. (b) The following data relating to information collected on
Marginal utility - It is the measure of the additional satisfaction obtained from consuming one additional unit of good. * Marginal Utility: An instance - The marginal u
explain convergent and divergent system
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