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Theory of Demand of managerial economics
According to Siegelman andSpencer "A business firm is an economic organisation that transforms productivity sources into goods which are to be sold in a market".
ECONOMIC EFFECTS OF TAXATION a. A deterrent to work Heavy direct taxation, especially when closely linked to current earnings, can act as a serious check to production
demand definitions
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
Describe about the Theory of profit Every industrial and business enterprise aims at maximising profit. Profit is the difference between total economic cost and totalrevenue. P
1. Define 'Arc Elasticity'. 2. Explain the law of 'Diminishing marginal returns'. 3. What is 'Prisoner's Dilemma', of non cooperative game? 4. What is 'Third degree Discrimation'?
Consider the following hypothetical story: Last spring, there was an outbreak of a nasty disease known as cyclosporiasis, which was eventually traced to Guatemalan raspberries. Tog
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
Special Drawing Rights (SDR) These are international reserve currencies created by the International Monetary Fund (IMF) to overcome the problems of using gold and national c
Demand management policies These policies are intended to increase aggregate demand and, therefore the equilibrium level of national income. They are sometimes called fiscal a
Infant Industry Argument Advocates of this maintain that if an industry is just developing, with a good chance of success once it is established and reaping economies of sale,
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