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What is producer surplus? “The more the competition among the sellers, the less the producer surplus enjoyed by the producers” – do you agree with the statement. Justify your answe
The Economics of Population Population issues became matters of economic concern when it became increasingly apparent that the problem of excess population may be a serious ob
Q. What do you mean by Kinked Isoquant? This isoquant presumes only limited substitutability of labour andcapital. There are just a few processes for generating any one commodi
Rationing of Credit As an instrument of credit control credit rationing was first employment by the bank of England toward the end of the eighteenth century when it imposed a c
What are the limitations of managerial ecomimics
Factors influencing demand for a product These are broadly divided into factors determining household demand and factors affecting market demand . Factors affecting hou
Explain cost output relationship with reference to: a. Total fixed cost and output b. Total variable cost and output
Interaction of supply and demand, equilibrium price and quantity In perfectly competitive markets the market price is determined by the interaction of the forces of demand and
Demand Schedule The law of demand can be explained through a demand schedule. A demand schedule is a series of quantities that consumers would like to buy per unit of time at d
Q. Avoiding Surplus and Inadequate Production? Demand forecasting is essential for the new and old organisations. It is somewhat necessary if an organisation is engaged in larg
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