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The Bandwagon Effect - This is desire to be in style, to have a commodity because almost everyone else has it, or to indulge in it. - This is major objective of marketing an
Monopsony: Demonstrate (with a graph) how a minimum wage can increase both the wage and employment in a monopsony market even when the government sets th
Micro economics is the study of individual unit of an economy
define perspective of managerial economics.
1. Suppose the wage rate is w = 1. An agent is working 6 hours per day and consumes 5 units of goods per day. Suppose that the agent claims to be indifferent between his current
Benefits of Education The returns a person/society (state/government) gets from acquiring education is referred to as benefits from education. If such returns are paid/receive
GDP Growth, Employment and Poverty: The advocates of economic reforms point out that the reform process has the potential of accelerating economic growth. After the teething t
Business Executives and Choice of Risk * Example - Study of 464 executives found that: 20% persons were risk neutral 40% persons were risk takers 20% perso
Special Drawing Rights: The late 1960s witnessed that the growth in world resources did not keep pace with the growth in international trade. The slackness in the growth of re
Proportion of Workers in Organised and Unorganised Workers: Increasing share of employment in unorganised sector reflect the deterioration in the quality of employment because
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