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Average Total Costs (ATC) This is total cost per unit of output, obtained by dividing total cost by total output i.e. ATC = Total Cost Total Outp
Q. Describe the Public Utility Monopoly? Public Utility Monopoly: Governmental authorities seize complete management and control of some utilities to protect social interest
Explain the role scarcity of resources plays in economics decision making
define equi marginal principle
Meaning The word inflation has at least four meanings. A persistent rise in the general level of prices, or alternatively a persistent falls in the value of money.
Advantages of Planned System i) Uses of resources : Central planning can lead to the full use of all the factors of production, so reducing or ending unemployment. ii
Q. Explain about Utility analysis? A subset of consumer demand theory which analysis consumer behaviour and market demand employing marginal utility and total utility. Key prin
CONTRACTING AND INSIDER-OUTSIDER MODELS OF UNEMPLOYMENT From the Walrasian assumption of a market-clearing wage on efficiency considerations - it was postulated th
Problem 1: All economies of the world can be said to be ‘mixed', to a greater or lesser degree, in that there is no economy where there is no state activity and no economy wher
what is segmentation
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