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Problem :
(a) Describe the law of demand and the factors affecting demand.
(b) llustrate and Explain how demand of a commodity will change if there is a tax on that product.
(c) Describe the term Price Elasticity of Demand, how it is calculated and give an example of price elasticity and inelasticity.
(d) Distinguish between a variable cost and firm's fixed cost and give an example of each.
Theories of Chamberlin’s monopolistic competition and Joan Robinson’s imperfect competition have revealed that a firm under monopolistic competition or imperfect competition in lon
graphical illustration describing the influence of an increase in immigrants on the market supply of labour
Trade union can also pay a useful role in improving the wages of the workers without causing adverse effects on employment. This case which is intensely associated with the idea of
Banking Infrastructure: An efficient financial system can influence the long-term growth through three important channels, namely: 1) increase in the proportion of saving tran
show this in a pie chart age = under 20|number of people = 20.90
what is microeconomics
Ask factor affects elasticity of demandquestion #Minimum 100 words accepted#
Returns to Scale Measuring relationship between scale (size) of a firm and output 1. Increasing returns to scale: output more than doubles when all the inputs are doubled
What are markets types of markets
PARALLEL ECONOMY: What is in popular parlance known as black money, and is, misleadingly called the 'parallel' economy, (as it operates very much with and within the legal, fo
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