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Johnson Farms owns valuable farm land that allows it to produce wheat at a lower cost than its competitors. The company reports large profits each year on its accounting statements. Is this profit an "economic profit?" Explain.
What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities?
Explain about the content of factor markets and the distribution of income. Content of factor markets and the distribution of income: a. Factor distribution of income b.
Economic Reforms and Industrial Growth Economic reforms were mainly intended to remove obstacles so that investment in industry may be accelerated. With this end in view, indu
Problem: a. With the help of diagrams, describe how the price and quantity of potatoes will change under the different circumstances: (i) A severe drought affecting its pro
BUREAUCRACY: M de Gournay, an economist of France, first coined the word Bureaucracy in the eighteenth century to refer to "a fourth or fifth form of Government" in which "off
4 models
Analyse the method by which a firm can allocate the given advertising budget between different media for advertisement?
what will be the effect on price and quantity when supply and demand changes in different directions but same magnitude?
What are the properties of consumer demand? Properties of Consumer Demand: In this section check the comparative statics of consumer demand behaviour as: how the demand of cons
Why total product continues to increase despite a decrease in the marginal product?
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