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explain the difference between traditional theory and modern theory of cost
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
Demand Function The function capturing the dependent relationship between the price people are willing to pay for products or service and other factors related to that product
A monopolist faces the following demand function for its product: Q = 45 - 5P The fixed costs of the monopolist are $12 and the variable costs are $5 per unit. a) What are the
Market supply and Increase in supply: Market supply is the total quantity of a product that all firms in an industry are willing to offer for sale at a given market price an
using the marginal utility approach discuss how economic theory explains the optimum pattern of consumption for an individual consumer
what is price elasticity of demand ? write briefly with explaining it''s type.
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illustrate and discuss implications of various market structure(non competitive and competitive) for price determination
Explain how automatic (fiscal) stabilisers may help to lower fluctuations in the business cycle. Definition of automatic stabilisers as built-in to the system in terms of trans
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