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Define the price ceiling A price ceiling is a highest price that sellers can charge for a product.
explain why policies for promoting market competition are desireable
What is the difference between a change in demand and a change the quantity demanded? There is a distinction among demand and quantity demanded. Demand explains the behavior o
PRICE ADJUSTMENTS UNDER FIXED EXCHANGE RATE: In a flexible exchange rate regime trade deficits (surpluses) are automatically corrected by a depreciation (appreciation) of a co
Profit: This is surplus left over after a company sells its output and pays off cost of production (which includes raw materials, labour costs and a proportional share of its capit
1. Why does inflation make nominal GDP a poor measure of the increase in total production from one to the next? How does the U.S' BEA deal with the problem inflation causes w
brife note on demand
What is the theory of Second Best? Prove the theorem with the help of a diagram.
What the definition of microeconomic
Disadvantages of division of labour: Division of labour may also have disadvantages that may include the following: (i) Lack of Craftsmanship Division of labour does not m
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