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How can we identify that something is elastic or inelastic?
When demand of any commodity does not change with the change in price of that commodity that item is said by inelastic. When demand of any commodity alters with the change in price of that commodity that item is said by elastic.
explain the properties of indifference curve with the help of diagrams?
Effects of inflation: On Income Earners:Those on fixed incomes or assets (fixed in nominal terms) lose. However, those on incomes, which are directly related to the price leve
explain land as a part of the four factors of production
compare the concept of MRTS with the MRS and discuss the similarities and difference between them?
Elasticity of Market Supply • Perfectly inelastic short run supply arises when industry's plant and equipment are so fully utilized that new plants should be built to ac
What is the difference between indifference curve and isoquants? An indifference curve shows dissimilar combinations which a consumer can buy with a given level of income. Ind
how do cooperative and noncooperative games differ
under which market structure does the banking sector fall?
implications of market structures on price determination
explain bains model of limit pricing
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