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Prices of other goods must remain constant
Changes in the prices of other goods frequently impinge on the demand for a particular commodity. If prices of commodities for which demand is inelastic rise, demand for a commodity other than these in all probability would decline even though there may not be any change in its price. Thus, for the law of demand to operate it is imperative that prices of other goods don't change.
Write a detailed note on the planning and development of Management Information Systems
Green Shield Insurance gives NEMO Corporation with coverage for prescriptions, dental work, and extended health services. Every subscriber uses $435 worth of dental services per ye
Legal Sanction: A monopoly as stated above may be the result of a government sanction. The government of a country may legally permit a private monopoly or monopoly in the public s
Convertible National Currencies Currencies are convertible when holders can freely exchange them for other currencies. There are several advantages in using a particular natio
asumption and limitation of increemrntal,oppurtunity cost
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Model Specification We proceed with the model specification in the following steps. 1) The economy is composed of competitive firms (F in number) and identical workers
Using the discounting principle calculate the present value of an annuity of five years at Rs. 500 payments made at the end of each of the next five years at 10% interest. stion..
The gap between theory and practise and the role of managerial economics: We have noted above that application of theories to the process of business decision making contributes a
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