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Question : (a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether c
BUREAUCRACY: M de Gournay, an economist of France, first coined the word Bureaucracy in the eighteenth century to refer to "a fourth or fifth form of Government" in which "off
Explain how the price system eliminates a surplus. The meaning of surplus is that quantity demanded is less as compared to the quantity supplied. This will lead to downward pr
appraise baumol`s sales revenue maximazation theory as an alternative of the firm
Aspects to promote administrative reforms: Following aspects to promote administrative reforms: 1) A closer focus on results in terms of efficiency and effectiveness, and
GROWTH OF EMPLOYMENT OPPORTUNITIES: Policy failure refers to situations: i) When the objectives of public policy are attained partially or inadequately or in a distorted
equilibrium output and prince is determined in williamson model of managerial discretion ?
Suppose you have 10 individuals with values {$1, $2, $3, $4, $5, $6, $7, $8, $9, $10}. Your marginal cost of production is $2.50. What is the profit-maximizing price? Using this
Explain the axioms of completeness, transitivity and non-satiation using appropriate examples.
Is indian companies running arisk by not giving attention to cost cutting
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