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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
Define why prices is significant for economy Reason for using different weights is that some prices are more significant than others for economy. Price of gasoline, for instanc
Communications: Noting the importance of improved communications in increasing productivity and welfare, the New Telecom Policy (NTP) was introduced in 1999. NTP 99 was aimed
Maurice has the following utility function: U (X; Y ) = 20X + 80Y ?? X2 ?? 2Y 2 where X is his consumption of CDs, with a price of $1, and Y is his consumption of movie videos, wit
What is an optimization in the methods of mathematics of modern economics? Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic
Statistical methods are considered to be superior techniques of demand estimation because: a. The element of subjectivity in this method is minimum, b. Methods of es
EOQ formula The EOQ equation assumes demand is constant and steady. It also assumes that demand for different items is independent. This is inappropriate for controlling inve
Money facilitates market activities and is essential in complex market systems. With money people can avoid the problems associated with coincidence of wants. Between, these pro
Question : (a) Using a simple example, diffrence between inter - industry trade and intra - industry trade? (b) Illustrate the reasons for the existence of external economie
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