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RECENT DEVELOPMENT IN DEMAND ANALYSIS: For many years economic theorists analysed the optimal behaviour of consumers while econometricians estimated consumer demand and expend
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Returns to Scale Measuring relationship between scale (size) of a firm and output 1. Increasing returns to scale: output more than doubles when all the inputs are doubled
Profit maximization is theoretically the most sound but practically unattainable objective of business firms. In the light of this statement critically appraise the Baumol’s sales
What are the various forms of aid a developing country might receive? Here the student must show clearly the difference between grant (donor) aid; reciprocal (tied) aid; bilat
Volumes (mL) of Solution 0.20M 0.20M 0.010M 2% 0.20M 0.20M NaI NaCl Na2S2O3 Starch K2SO4 K2S2O8 ?2ml 2ml 2ml 1ml 2ml 2ml ?2ml 2ml 2ml 1ml 0ml 2ml ?4ml 0ml 2ml 1ml 2ml 2ml Time Exp
STETE THE THEORIES OF DETERMINATION OF RENT
Theories of Chamberlin’s monopolistic competition and Joan Robinson’s imperfect competition have revealed that a firm under monopolistic competition or imperfect competition in lon
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Negative profit FC + VC > R(q) MR > MC Indicates higher profit at the higher output - Question: Why is profit negative when the output is zero? - Outp
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