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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
First Degree Price Discrimination - The monopolist sells different units of the commodity at different prices which differ from person to person. Second Degree Price Discriminat
Case Study - EUROPE Let us now see how events unfolded over the decades in Europe that led to monetary unification in terms of a single currency and single central bank. At
what is iso curve
if a commodity has limited demand , should economist say that we still have a scarcity ?
Do the laws of economics still work today? use the case discussed in class to answer this question or any other examples) (ii) Provide examples of three factors that can shift the
GROWTH OF EMPLOYMENT OPPORTUNITIES: Policy failure refers to situations: i) When the objectives of public policy are attained partially or inadequately or in a distorted
The sales of a company are the part of the total sales of industry. If the conditions of industry changes then the sales of each of the firm in the industry is affected. All teh ti
WTO Agreements: The WTO administers 29 agreements; these cover different areas like trade in goods and services, investment measures, intellectual property rights, etc. Some o
Explain about the perfect competition according to economics theory. The procedure of testing and refining theories is the key to the development of modern economics like a sci
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