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how to find least cost combination of factor inputs given the production
Disadvantages of division of labour: Division of labour may also have disadvantages that may include the following: (i) Lack of Craftsmanship Division of labour does not m
Uses of population census: It is used to determine the size and the growth rate of the population at a country. The helps the government in planning for education, transporta
Q. What is Debt Burden? Debt Burden:Real economic importance of a debt relies on interest rate that should be paid on debt and on total income of consumer or business which und
The definition of a price maker is states as “firm with some power to set the price bcoz the demand curve for its output slopes downward”, that in effect, mean those firms with a d
having utility function U(x,y)= x1/2=y1/2, determine the hicksian demand function, expenditure function and indirect utility function.
Suppose we divide Canada into three regions; the west, the centre and the each
Control of Monopolies and Restrictive Trade Practices Monopoly hampers economic growth by lowering output and increasing prices and has an anti-social impact. In India, the Monopo
Define law of supply. Quantity supplied rises as price raises, other things constant. In other words, "Other things being equivalent, when the price of a product rises, then s
Determine the indirect utility function in brief. Indirect Utility Function: The ordinary utility function, u(x), is described over the consumption set X and thus to as the
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