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Perfect competition:
The behaviours of firms in perfect competition. It should be noted that firms that fit into perfect competition model are very rare in real-life situations. The closer examples are found mostly in agriculture and extractive industries. Nevertheless, the model of perfect competition provides a standard with which the actual performances of firms in certain segments of our economy can be compared.
Government Policy Business Cycle Business cycles create instability in the economy. The period of boom or rising business activities is characterised by increase in output, emp
uses of time series in indian economy
Explain about the duality between direct and indirect utility. Duality between Direct and Indirect Utility: While seen how one can recover an indirect utility function by ob
Define
Entrepreneur: The entrepreneur or enterprise is a special factor of production that is in charge of the organization of the other three factors of production (land, labour and
on what grounds is consumer surplus criticised?
Consider a hypothetical ABC economy in which the narrowly-defined measure of the money supply (M1), as defined in the Canadian sense, in existence is 1250$ million. Assuming the e
Problem 1 (a) Explain the evolution of exchange rate system in Mauritius. (b) According to you, what factors determine exchange rates in the long run? Problem 2 "Inf
Transport Infrastructure: The development of transport infrastructure plays an important role in the growth process through increasing mobility of resources and increasing fac
Under capitalism, most production is undertaken by private companies (of various forms), with the goal of generating a profit to the company's owners. Profit is obtained when compa
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