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Economics; Different Perspective
? Economics is the knowledge of the choices taken by people who are faced with scarcity.
? Scarcity is a condition in which resources are restricted but can be utilized in various ways; so one good or service should be sacrificed for the other one.
Society’s Choices
? The decisions of consumers, producers, and government decide how an economic system answers 3 fundamental questions:
1. What products do we manufacture?
2. How do we manufacture these products?
3. Who consumes or intakes the products?
Duopolist P=20-0.1Q where Q=QA+QB CA=QA CB=0.1QB2
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Sample Survey and Test Marketing: Under this method some representative households are selected on random basis as samples and their opinion is taken as the generalized opinio
what is the theory of second best? prove the theorem with the help of a diagram.
illustrate and discuss the implications of various market structures (competitive and non competitive) for price determination
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analyse the rise and fall in the price under market equillibrium situation?
How many half-lives are required for the concentration of reactant to decrease to 1.56% of its original value?
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