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Price Discrimination: occurs when the same product is sold at different prices to different consumers. A monopolist divided his consumers into groups and sells his product at varying prices to them. Price discrimination is applied in order to increase the profits earned. Some consumers are willing to pay more for a commodity. The monopolist recognizes this fact and charges them a higher price. This enables him to earn a greater profit than he would have got by charging a common price.
• Production Function . The factors of production have to be combined in a particular manner to produce a certain product. Think of baking a cake which involves mixing fixed propor
Domestic Policy Failures: i) There is too much emphasis on "ownership" ownership of bad policies can lead to disasters. So, at times, the Fund and the Bank will need to be "p
#questioIn many metropolitan areas of the country, local governments often impose rent controls on apartments. The justification for doing so is that the current market rent is con
what the company do?
What should be the decent/appropriate growth rate in any country? Answer: A growth rate of among 2-3% is considered normal for mature developed countries; for LICs, 5-7% is
discuss the problems of measuring productivity in actual work situations. how might productivity be measured for each of the following industries: education, government and manufac
STRUCTURE OF NATIONAL INCOME: The structure or composition of national income of an economy explains the relative significance of the different producing sectors in an economy
the fours laws of chemical combination
Rationale for government intervention There are six major functions the government can perform in an economy. 1. The government provides a legal and social framework within which
what is le''chatliers principle?
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