Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Determine the concept of Law of demandWe have considered numerous factors which fashion the demand for a commodity. As explained the first and most important factor which determines the demand of a commodity is its price. If allother factors (noted above) remain constant, it can be said that as price of a commodity increases, its demand decreases and as price of a commodity decreases its demand increases. This is a universal behaviour observed in a market. This gives us the law of demand: "The demand for a commodity increases with a fall in its price and decreases with a rise in its price, other things remaining the same". The law of demand therefore merely states that price and demand of a commodity are inversely related, provided all other things remain unchanged or as economists put it ceteris paribus.
What is increasing marginal cost? Felix’s marginal cost is greater the more lawns he has previously mowed. It is, every time he mows a lawn, the extra cost of doing still anoth
The aim of monopolist is to maximise profit therefore; he would produce that level of output and charge that price which gives him maximum profits. He would be in equilibrium at th
A medical insurance company offers its salespeople the following compensation scheme: each worker takes a fixed salary and, in addition to that, a commission depending on the volu
To eliminate competition and thereby secure higher prices, firms producing a specific product can come together and make monopoly agreements. These are called as industrial combina
A mother is torn among choosing her son Leonardo and her daughter Meryl to have the last bar of chocolate in her cupboard. As both her children's needs the chocolate and she needs
MONOPOLISTIC PRACTICES The following practices may be said to characterize monopolies. Exclusive dealing to supply and collective boycott Producers agree to supply onl
Autonomous Expenditure Also called Exogenous expenditure, is any expenditure that is taken as a constant or unaffected by any economic variables within our theory. For instan
what are the examples of the types of elasticity (price,income & cross elaticity
Arguments against protectionism Most of the arguments for protectionism may be met with counter arguments, but underlying the economic arguments as opposed to the social, mo
Features of this system The mixed economy includes elements of both market and planned economies. The government operates and controls the public sector, which typically cons
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd