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Q. Explain Maximising revenue method?
In a number of cases, a firm's demand and cost conditions are such that marginal profits are greater than zero for all levels of production. In this case, Mπ = 0 rule has to be modified and the firm must maximise revenue. Or we can say the profit maximising quantity and price can be concluded by setting marginal revenue equal to zero. Marginal revenue equals zero when marginal revenue curve has reached its maximum value. An illustration would be a scheduled airline flight. Marginal costs of flying the route are negligible. Airline would maximise profits by filling all the seats. Airline would determine the p-max conditions by maximising revenues.
Q. Optimal Input Combination for Maximisation of Output? Equilibrium conditions of the firm are identical to the above situation which is, iso-cost line must be tangent to the
Legal Sanction: A monopoly as stated above may be the result of a government sanction. The government of a country may legally permit a private monopoly or monopoly in the public s
Q. What is the economic role of government? What are the roles? Meaning: economic role is the role played by the government in uplifting the economy. The important roles: 1.
Problem : (a) Describe inflation and discuss its origin using Classical and Keynesian theories. (b) Describe with diagram how can inflation occur in an economy with substant
Drafting of Price Policy: Demand forecasts assist the management to prepare a few appropriate pricing systems, so that level of price doesn't fall and rise to a great extent at th
encrimetal concepts
Question 1: (a) Describe the argument that market entry erodes profits in the long run. (b) Give some reasons and discuss possible strategies used for profits to persist eve
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The Current Account This records all transactions involving the exchange of currently produced goods and services and is subdivided into i. Visibles: A record
Q. What do you mean by Legal Monopoly? Legal Monopoly: Some monopolies are engendered and protected under various laws. Inventors of new processes, devices or articles attain
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