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Q. Perfect Competition in neoclassical economics?
Perfect Competition: An abstract assumption, central to neoclassical economics, in that companies are so small that none can influence total output or price levels in an industry, none can anticipate or interact with the actions of its competitors and none can distinguish its products from those of competing firms. Perfect competition has never existed in real life; it's a theoretical assumption developed solely in order to defend internal logical integrity of neoclassical economic theories.
if coast of good A fall by Rs.1 & coast of good B increases by 1 Rs. what will be the effect on budget line
Following the tremendous success of the 'Matthew Hayden Cookbook', we are once more welcomed into the home-and, more importantly, the kitchen!- of Australia's gourmet cricketer for
The question states that a hotel charges $60 a night for a room per night during off peak. This hotel has a fixed cost of $75 per night and variable costs of $40 per night (only ap
economic analysis of demand on retailer in ustralia
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The benefits of increased openness in trade. Narrowly defined, trade openness is lowering trade barriers - facilitating increased imports - whereas focusing on international ex
1. Consider an individual facing a wage rate w . There's a total of 100 hours available for work or leisure in a week. (a) Represent his budget constraint graphically (b)
GENERAL PRINCIPLE OF EXTRACTION OF METALS
Determinants of Social Demand for Education - Externalities The state has several objectives of which welfare and development of the people are most important. Promotion of cu
suppose a firm''s total revenue depends on the amount produced (q) according to the function R= 70q-q2 total cost dependson q: C=q2+30q-q2
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