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Total Cost (TC) This is the sum of fixed costs and variable costs i.e. TC = FC + VC.
Assumptions of Monopolistic Competition Monopolistic competition as the name implies, combines features from both perfect competition and monopoly. It has the following featu
Q. Describe Rule based forecasting? Rule based forecasting: Rule-based forecasting (RBF) is a proficient method which incorporates judgment as well as statistical techniques
Question: i) The manager of Top Rock Company is introducing a new product that will yield $200 millions in profits if the economy does not go into recession. However, if a rec
Q. Discovery of new technical know-how? Growth of Technical Know-how: Expansion of an industry may result in the discovery of new technical know-how. As a result of this firm
diagram of a perfect competition
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
#question.meaning of isoquants and its types
What is Managerial economics according to McGutgan and Moye McGutgan and Moyer: "Managerial economics is the application of economic theory and methodology to decision-making
bargaining power of customer for a cement company
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