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discuss how cross of demand is useful in categorizing commodities
Factors determine the price elasticity of supply: The price elasticity of supply varies widely across different products. Some products have more leastic supply, while others
Define law of demand. Answer: Quantity demanded increases as price falls, other things constant. In other words, "Other things remaining the same, when the price of a good r
Q. What do you meant by Progressive Tax? Progressive Tax:Tax is considered progressive if a larger proportionate share of its total burden falls on individual'swith higher avera
describe engineering cost theory in detail
1. Explain what are price ceilings and price floors and how they effect the market for a good or service. Also show through graphs, if they cause any inefficiencies in a perfectly
Using commodities as an example, explain the factors influencing the PES for such goods. The basic determinants of PES are time span included and the availability of producer s
What is the role of profits in a market economy? Profits act as an incentive to producers and potential entrepreneurs, and also as a signal to both that resources may be re-al
(a) What is meant by heteroscedasticity and what are the consequences of applying OLS estimation in its presence? (b) Explain in details the Generalised least Square procedure
concept of supply and the factors that affect the supply
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