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Problem 1:
How can a manager of a supermarket maximise total revenue using various concepts of elasticity of demand? Use examples to illustrate.
Problem 2:
What are the distinguishing features of a market where firms are price takers? How would such a market characterized by imperfect competition? Use diagrams where appropriate.
Problem 3:
It is observed that some firms keep making profits in the long run despite no barriers to entry. Explain the reasons and possible strategies for such persistence.
Problem 4:
How can firms extract consumer surplus from their customers? Use examples to illustrate.
Problem 5:
(a). Explain why despite decreases in marginal cost, price may remain unchanged in an oligopoly setting. Use example to illustrate.
(b). Explain how equilibrium is reached in a Cournot model. Illustrate why would firms in such a model wish to collude? Use examples to illustrate.
(c). What factors can affect the decisions to sustain collusive agreements?
Why is the concept of scarcity relevant to both LDC s and MDC s? All societies throughout time have wrestled with the basic economic conundrum of having needs that cannot be me
Price Elasticity A measure of the change in demand for a product relative to unit changes in the price of the product. If the percentage change in quantity demanded is greater
The Wealth of Nations of Modern Economies When the federal government uses expenditures to stimulate the economy, it changes not only the present but the future as well. Question
what do you understand by demographic window acess by india
diffence b/n fixed and variable input
what is ''Prisoner''s Dilemma'',of non-cooperative game?estion..
The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. What would answer be
How can we calculate the Inflation rate Inflation: The rise in general prices and the decrease in value of money. Inflation is a sustained increase in the general price level
How can we test adulterants in vegetable oils?
LINKAGES OF BUREAUCRACY WITH THE KNOWLEDGE CENTRES: The Government employees must make use of knowledge generated in higher seats of learning for implementing economic policie
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