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Q. Explain about Natural Monopoly?
Natural Monopoly: In some industries, economies of scale are so strong that it makes most economic sense for there to be just one supplier. This kind of industry is considered a natural monopoly, because competition would eventually tend to concentrate output in one producer (and this is, in any event, most efficient way to organize production). Governments generally attempt to oversee the operation of natural monopolies through either public ownership or regulation.
what is Scitovsky Contour ?
different types of production funtion and curve given by different economist
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Point Elasticity: Point elasticity is brought in use when the change in price is quite small, which means. The two points between which elasticity is being measured or calculat
why we study micro econmics?
implication tructures of various market structures for price determination
two or more variable inputs
Example of a cost function
Ask questi‘Social welfare functions embody a normative conception of the relative importance of equity and efficiency’. With the aid of diagrams, illustrate and explain this propos
an emission fee levied against polluting firms will tend to shift the supply/demand curve of the firm/product to the left/right?
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