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Revenue and Profit Maximization: Whenever a good is produced, the individual firm which has produced incurs costs which are are referred to as private costs and the society in
explain the relationship between ATC,AVC and MC by using diagram
1. Explain- a. Tragedy of commons b. Free rider problem c. Diminishing marginal utility d. Diseconomies of scale e. Tax incidence f. Elasticity g. Gains from
Return on Equity: It's a measure of business profitability equal to net after-tax income divided by average level of shareholders' equity in the business. Sales Tax: A tax im
REAL BUSINESS CYCLE THEORY: The parable that motivates this discussion originated with Edmund Phelps and invites you to think that all men (and women) are islands. They have p
Why do some people believe that a mixed economic system solves basic economic problems? Ans) It is due to the private sector and public sector both have a say in answering the
2. a. Suppose the demand for saline solution is perfectly inelastic for contact lens wearers. If the government imposes a tax on saline solution, what occurs? Be sure to tell what
Explain about the money metric utility functions. The Money Metric Utility Functions: It is a nice construction including the expenditure function which comes up into a vari
How economic theory explain optimum pattern of consumption for an individual consumer
Q. Can you explain about Counterfactual? The ‘base case' or counterfactual is a statement of what could have happened without policy intervention, or if the policy intervention
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