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example of marginal opportunity cost
What do you mean by Consumption Set? Consumption Set: We notice a consumer faced along with possible consumption bundles within consumption set X. We generally assume that X
explain bains model of limit pricing
What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities
Structuralist Economics:Its a form of heterodox economicsthat emphasizes relationships betweenincome distribution, effective demand and political and economic power. Structures:
reason for kinked demand curve
how to estimate costs?
What is the theory of second best? Prove the theorem with the help of a diagram
Q. What do you meant by Real GDP? Real GDP:Value of total gross domestic product (which is, all the services and goods produced for money in the economy) adjusted for effects o
What is the expected profit?
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