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what is the theory of Second best? Prove the theorem with the help of a diagram.
Problem 1: a. Use the circular flow model to explain the concepts of injections and withdrawals. b. Explain the concept of budget multiplier. c. Using the concept of mult
Elasticity of Market Supply • Perfectly inelastic short run supply arises when industry's plant and equipment are so fully utilized that new plants should be built to ac
what is dynamic and static multipler
what are the pros and cons of monopsony
2) Proctor & Gamble (P&G) and the Lever Co. decide to form a laundry detergent cartel for future sales in Europe. Lever is more efficient than P&G. a)illustrate graphically how the
elasticity of demand of a product in different market forms such as perfect competition, monoply etc.
explain the traditional theory of cost with suitable diagrams.explain why LAC curve is not U shaped?
illustrate graphically the influence of an increase in immigrants on the market supply of labour
Uses and Habit Forming Commodity -price elasticity of demand: The number of possible uses : A commodity has high price elasticity of demand (or elastic demand) if it can be p
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