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In the city of Gelato the market for ice cream is perfectly competitive. Aggregate demand for ice cream is: where p is the price for one cone of ice cream. All ice cream pr
Q. Controlover Supply of Inputs - sources of monopoly? Furthermore, a monopoly situation may arise because of control over the supply of an essential input -skilled labour, raw
In the short-run the firm can't modify or change overhead factors like equipment, plant and scale of its organisation. In the short-run output can be decreased or increased by chan
TRADE UNIONS Trade unions are workers' organizations whose objective is to protect the interests of their members. Functions i. To bargain on behalf of their mem
What are the important external forces Management has to identify all significant factors which influence a firm. These factors can largely be divided into two categories. Mana
Features of Planned Economy The command economies relies exclusively on the state. The government will decide what is made, how it is made, how much is made and how distribut
Disadvantages of a Free Economy The free market gives rise to certain inefficiencies called market failures i.e. where the market system fails to provide an optimal allocation
Q. Illustrate about Sales maximisation? The concept that business firms (specifically those operating in the real world) are principally goaded by the aspiration to achieve the
Singapore Airlines is facing the possibility of a new competitor " Qantas " to enter the Singaporean market, especially in premium market, Singapore Airlines is dominant on the ma
The variance of the OLS estimator is VAR( ^B)=σ 2 /ns 2 x , where s 2 x =£x 2 /x You're hired to estimate and you're going to be paid according to the accuracy of your esti
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