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Q. Explain about Demand - Constrained?
Demand-Constrained: An economy is demand-constrained when level of output and employment is limited by the amount of overall demand (or spending) on its products. Capitalist economy is generally demand-constrained. Only rarely is the economy supply constrained: that is, limited by availability of workers and other productive resources.
what is the theory of second best? prove the theorem with the help of a diagram.
what is externalities and market inefficiency
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what is the relationship between TP, MP and AP
Yuen, a travelling salesman for snake oil, can produce the stuff at a marginal cost of 1. There are 100 potential customers in Vernon, each of whom has the following demand functio
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