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LONG PERIOD ANALYSIS: Long period refers to a time when all the factors are variable. Earlier in the short period analysis, we had considered capital (K) to be fixed factor. H
Concept of Stock Replenishment This concept assumes that stock is always available whether there is demand or not. Consider the demand for constituent items, such as componen
Describing Risk * To measure risk we should know: 1) All the outcomes which are possible. 2) The probability that each outcome will occur. * Interpreting Probability
Welfare Analysis 1-Of the following four institutions for allocating apartment to different people at different prices i. The competitive market ii. A discriminatin
Illustrate the roles of mathematics in modern economics? Roles of Mathematics in Modern Economics: Mathematics has become a significant tool into modern economics. Mostly
Types of production function
What are the problems of interest for several reasons in cost minimization? Cost Minimization: A significant implication of the firm choosing a profit-maximizing producti
Measuring the Economic Value of Education A review of research works regarding the economic value of education shows that it developed in four different directions. They a
Q. What do you meant by Monetary Targeting? Monetary Targeting: A policy which attempts to directly limit the growth in total supply of money in the economy. It was main policy
Trade union can also pay a useful role in improving the wages of the workers without causing adverse effects on employment. This case which is intensely associated with the idea of
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