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"Assume the local fixed telecommunications company is a monopoly. It costs the company €2 per month to give voice messages service to a customer. Elasticity of demand for voice messages service is 4/3 (at any price). Then the phone company will produce more money if it does offer its service at €5 per month than if it offers this service at €8 per month." Explain the statement in your own words.
What are the uses of elasticity to the private sector
what to produce? how to produce? for whom to produce
Mathematical representation - Inflation Unemployment Trade-off : Suppose that firms correctly perceive the state of demand in the economy and the rate of price inflation. The
Strong Domestic Economy: We have to realise that healthy export sector can be built up only on a strong and efficient domestic economic structure. A sound domestic economy is
Low standards of living: In developing nations general standards of living tend to be very low for the vast majority of the people. These low standards of living are manifest
Q=10-2P,PRICE DECREASE FROM RS 3 TO 2
#question.using a well illustrated diagram, explain the concept of producers equilibrium .
Discuss the costs and benefits of establishing a common currency. So, there is a convergence issue in setting up the common currency - and there will also be a convergence prob
What is the theory of Second Best? Prove the theorem with the help of a diagram.
"Take a monopolist with a constant average cost. The higher is the elasticity of demand at the chosen monopoly price, the higher is the monopolist's profit-to-revenue ratio." Expla
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