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List two advantages of markets identified by the authors of the text.
Markets can be a significant way of allocating resources. Markets include voluntary exchanges. Another benefit identified in the text is that markets encourage innovation and creativity.
Relatiön between TC ,TFC and TVC
Problem: (a) Why is an error term added to a regression and explain its importance in the OLS procedure? (b) Suppose we have a linear equation with a constant term, one expl
Closesubstitute goods: The number of closesubstitute goods The more substitutes of good has and the more close the substitutes are, the more elastic the demand for the good. Fo
Q=10-2P,PRICE DECREASE FROM RS 3 TO 2
EOQ formula The EOQ equation assumes demand is constant and steady. It also assumes that demand for different items is independent. This is inappropriate for controlling inve
Prove that the utility approach and the indifference curve approach yield the same consumer equilibrium.
Workers' Co-operative: Another form of privatisation is transfer ofownership of a loss-making concern to the workers. Mr. R. Ganpati, formerChairman of the Board of Industria
It is important to understand the important characteristics of monopolistic competition. The knowledge of these features will enable the students to know how this form of market st
AGRICULTURAL GROWTH AND PRODUCTIVITY TRENDS: Despite a steady decline in the share of agriculture in the Gross Domestic Product (GDP) of India, this sector continues to remain
A monopolist faces the inverse demand for its output: p = 30 – Q The monopolist also has a constant marginal and average cost of $4/unit. The government is seeking ways to collect
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