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1. Moving from an economically inefficient to efficient allocation of resources will necessarily increase benefits by more than costs.
2. There are two demand curves for a private (i.e. normal consumption) good: P=30-q1 & P=30-2q2. Let Q=q1+q2 be the total quantity demanded on the market. What is the equation for the total (market) demand ?
How can we calculate the Inflation rate Inflation: The rise in general prices and the decrease in value of money. Inflation is a sustained increase in the general price level
what is isoquant ?
what will be the possible concequences if a large scale like Toyota place its new product in Indian market without having forecast the demand for its product
Low levels of productivity: In addition to low standards of living, developing countries are characterized by relatively low levels of labour productivity. Throughout the dev
suppose either computers or televisions can be assembled with the following labor inputs: units produced: 1 2 3 4 5 6 7 8 9 10 total labor used: 3 7 12 18 25 33 42 54 70 90 Draw th
REAL VERSUS NOMINAL PRICES • Nominal price is a complete or current dollar price of a good or service when it is sold. • Real price is the price related to a combined me
Question 1 Discuss the short-run cost-output relations Question 2 Write a short note on pure competition Question 3 Describe excess profit criterion Question 4 Disc
types of market competitions
(a) Increase in technology and productivity take effect in the red bull market use and label a graph to explain the result of this change on each of the following (i) Market Pri
Development Administration: Since the Government has been entrusted to manage economic and business activities, it was found difficult to manage the economic policy with the t
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