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In theory, we know that a monopolist basis its price directly off of the demand curve, but in practice a monopolist cannot ''see'' the demand curve. Explain how a monopolist might
what is the importance of law of supply
Negative profit FC + VC > R(q) MR > MC Indicates higher profit at the higher output - Question: Why is profit negative when the output is zero? - Outp
Explain how monetary and fiscal policies can be used to alleviate (= lessen) dissimilar types of inflation. Define monetary and fiscal policies and show how these policies mig
What is main difference between capital intensive goods and primary products? Primary product means the major product in which the firm is dealing. Capital intensive good mea
Point elasticity: It refers to measurement of elasticity on a point On a demand curve. Point elasticity helps in measuring elasticity where change in price and quantity is infinite
What is Expenditure Function? The Expenditure Function: When preferences satisfy the local nonsatiation assumption, in that case v(p, m) will be strictly increasing into m.
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what are the charecteristics of capita
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