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Fixed costs are those which are independent of output that is they do not change with changes in output. These costs are a fixed amount which must be incurred by a firm in the shor
Q. Describe about Capitalism? Capitalism: An economic system in that privately-owned businesses and companies undertake most economic activity (with the goal of generating priv
Supply of a commodity is functionally related to its price. The law of supply rated to this function relationship between price of a commodity and its supply. In contrast to the in
explain how a perfact market responds to changes in consumer demand?
The prevention of major swings in economic activity can be handled most easily by the
What is an optimization in the methods of mathematics of modern economics? Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic
Five uses of elasticity on the Public Sector and five uses of elasticity on the Private Sector.
Describe Dalton''s law of partial pressures, specification of Dalton''s law of partial pressures, Dalton''s law states that, at a given known temperature total pressure exerted b
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