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Q. Show the Properties of isoquants? Isoquants slope downwards to the right: It means that, in order to keep output constant; when amount of one factor is increased then the
marris'' model of managerial enterprise?
Income Elasticity The functional relationship among the changes in the quantity demanded for a good or service and the change in income of those persons demanding the good or s
Actual income and Full employment income Full employment income (Also called Potential National) is the national income that could be produced when the country's factors of pr
Meaning The word inflation has at least four meanings. A persistent rise in the general level of prices, or alternatively a persistent falls in the value of money.
list all profession which generate personal income
Marginal Revenue (MR) This is the increase in Total Revenue resulting from the sale of an extra unit of output. Thus, if TR n-1 is Total Revenue from the sale of (n-1) units
the benefits of exchange in the light of the law of association, the introduction of money in direct exchange and way income gets distributed among market participants
The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-2.5Py+7.5Pz
What are terms included in oligopoly? Oligopoly includes: • The meaning of oligopoly, and why it arises • Collusion • Game theory, particularly the concept of the pris
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