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Perfect competition:
Perfect completion refers to the market structure in which there are a large number of relatively small firms, each firm having freedom of entry into and exit from the industry.All firms produce homogeneous product and all market participants (buyers and seller) have full knowledge of the situation in the market, especially about the present price and location of the product.
So what caused the end of Malthusian age? How did humanity escape from the trap in that invention and ingenuity increased the numbers though not the material well-being of humanity
Island Economy: Consider an economy as a sea with islands of local markets. Each household produces goods and sells them on one and only one of the arrays of these markets. Go
Indirect Utility Functions: Let qi denotes commodity i and pi is the price of that commodity. Let y denotes money income of the consumer. Suppose vi = pi/y. The budget constra
effect of tariffs on national income and employment
WTO Agreements: The WTO administers 29 agreements; these cover different areas like trade in goods and services, investment measures, intellectual property rights, etc. Some o
Cost Sharing in Higher Education - Student Loans The method is popular as it directly targets only those who are the recipients of the benefits of higher education.The method
Before explaining returns to scale it will be instructive to make clear the distinction between change in the scale and changes in factor proportions. The difference between the ch
derivation of demand funcation using indifferance curv ordelreay and competed demand curv
Elimination of waste - Stock Management Here is a definition of the elimination of waste: Anything other than the minimum amount of equipment, material, parts and working t
Distinction between Human Capital and Resource and Manpower Health and education are normally considered as human capital. Health includes both physical health and fitness. E
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