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Profit: This is surplus left over after a company sells its output and pays off cost of production (which includes raw materials, labour costs and a proportional share of its capital equipment). Its calculation is: revenue - cost = profit.
give assumption, rules/formulas and demonstrate that ramsey prices are the seconnd best pricing. explain clearly.
Is it possible for a firm to be both Price taker and price maker? A firm can either be a price taker or a price maker. It cannot be price maker and price taker at the similar
International Comparisons Method In the 1960s, a few developing countries of the world looked around the developed world in search of models of development. For instance, Sout
how distribution is arranged to provide customer service
What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities?
What are subsidies? Almost in all market systems, government plays its role to stabilize the price of certain commodities, which are of public interest like medicines and edib
what is isoquant ?
Shifting the PPF Curve To raise the manufacturing of one good without reducing the production of the other, the PPF curve should shift outward. The PPF curve shifts outward as
Austrian economics is a brand of neo-classical economics that was established in Vienna during the late 19th century & first half of the 20th century. Austrian economics was strong
What are the economies and diseconomics of scale?
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