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Assume that milk operates in a perfectly competitive market, use a well labeled demand and supply model to explain how market equilibrium price of milk is being determined.
Using the same model, explain and illustrate the impact of the glut of milk on the market. Clearly explain the equilibrating process.
If you were the Minister for Agriculture in the Victorian Government, and the Victorian Dairy Farmers Association asked you to support their members by imposing a legal minimum price, would you support or reject their request. Use an economic model to explain why you reached your decision.
With the aid of appropriate diagrams, what possible alternative programs could the government implement to increase the prices farmers receive in the market? How does your answer compare with question 3 above? Explain
What are the factors that producers in the society may take into consideration when deciding on the what to produce,how to produce and for whom ?
ENUMERATION OF WORKERS: Now, let us discuss about the sources of data in India on workers. In India, two main organisations which generate and compile data on workers are the
If one person can produce 1 fish and 10 oranges per hour and works 5 hours a day.another person can produce 2 fish and 20 oranges per 2 hors and works 8 hurs a day then who has the
What is Economic Depreciation?
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Distinguish between interventionist and market-led strategies of development. Explanation of interventionist strategy; heavy government involvement in the planning of output, p
Case 1: The market for drugs Supply, demand, and equilibrium: The market for drugs. Suppose the market for drugs is a perfectly competitive market. Let the supply curve
1. Cost minimizing firms must be profit maximizing as well. False, why??
Growth of Agricultural Production and Productivity: Post-independence period was marked by severe and recurrent shortages of foodgrains. Dependence on imports of foodgrains wa
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