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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.
what is walrasion equilbrium
Problems relating to national income estimation: Changing prices of goods and services . Prices of goods and services do change from one period to another. This makes compari
Ask questi‘Social welfare functions embody a normative conception of the relative importance of equity and efficiency’. With the aid of diagrams, illustrate and explain this propos
Impact of Economic Reforms on Labour: It would be of interest to study the industrial relations scenario in the pre-reform and post-reform period. Data provided in table 8.4 r
Partial Input Elasticity of Output: This is a short-run concept which deals with the variability of only one factor keeping the others constant. There are three kinds of retu
define cost its types with curves
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When is the price of a product demand determined? The price of a product is demand defined while the product is in fixed supply. This means that the price of the product is defin
Manpower-Population Ratios In this technique, manpower will not be planned for the economy as a whole. It will be planned for sectors or sub-sectors of an economy. For instanc
In the case of a tax abolition on food staples, what are the short run and long run effects?
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