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The concept of point elasticity is applicable where change in price and the resulting change in quantity are infinite or small. Though, where change in price and consequent hunger
Actual income and Full employment income Full employment income (Also called Potential National) is the national income that could be produced when the country's factors of pr
different types of markets and role in managerial economics
State the Meaning of managerial economics Managerial economics, used synonymously with business economics, is a study of economics that deals with the application of microecono
Advantages of Perfect Market It achieves, subject to certain conditions, an allocation of resources which is: socially optimal" or "economically efficient" or "pareto effi
Arguments for Uneven Distribution of Income and Wealth The basic economic argument to justify large income inequality was the assumption that high personal and corporate income
explain marris model
Determine the concepts of demand Demand always mentions to demand at price. The term 'demand' has no meaning unless it is related to price. For example, the statement, 'the
Relevance of The Law of Diminishing Returns The law of diminishing returns is important in that it is seen to operate in practical situations where its conditions are fulfille
write a note on marris growth maximising model?
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