Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
SHORT RUN OUTPUT AND PRICE
In monopolistic competition, it's the product differentiation that permits its price without losing sales.
Due to brand loyalty consumers will continue buying a particular product as preferred to all other brands in spite of increases in the price of that product.
If one firm lowers its price it may capture a few more customers therefore expanding its sales over and above the traditional customers. Besides the product differentiation need not be physical, only the customers need to feel the products are different.
Generally the demand for one seller's product will be price elastic due to close substitutes. If one firm raises its prices, TR will go down. If the price is reduced there are possibilities of substantial increase in revenue because of capturing some customers from rivals.
The level of elasticity will depend on the strength of product differentiation.
Q. What do you mean by Cost Function? Cost function is a derived function. It's derived from the production function that describes the efficient method of production at any gi
Rationing of Credit As an instrument of credit control credit rationing was first employment by the bank of England toward the end of the eighteenth century when it imposed a c
Profit maximiZation is theoretically the most sound but practically unattainable objective of business finns. Do you agree this statement? If agree give
Q. Illustrate Internal Economies of Scale? Internal economies of scale are the benefits of large scale production. They are enjoyed by the firm when it increases its scale of p
What do you mean by the fiscal policy? What are the instruments of fiscal policy? Briefly comment on India's fiscal policy.
The concept of isocost In the use of resources, firms are faced with opportunity cost. For every addition of say capital, they must forego a unit of say labour. Expositio
how realistic is the sales maximization model from experience with business objectives as pursued by Zimbabwean firms
Describe the Status goods of law of demand The law doesn't concern the commodities that function as a 'status symbol', add to the social status or exhibit prosperity and opulen
Demand for money The demand for money is a more difficult concept than the demand for goods and services. It refers to the desire to hold one's assets as money rather tha
explain perspective of managerial economics
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd