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Returns to Scale in Carpet Industry * The carpet industry has grown from the small industry to large industry with some large firms. * Question - Can the growth be illu
Shor tage A condition under that the quantity demanded for a good or service exceeds the available supply for that good or service. Shortages usually cause a rise in price
total revenue
Problem: a. With the help of diagrams, describe how the price and quantity of potatoes will change under the different circumstances: (i) A severe drought affecting its pro
veblen effect
#question.what is elasticity of demand? .
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
Diffrence between price and Income elasticity of demand: Own price elasticity of demand is the degree of responsiveness of the quantity demanded of a commodity to a change in
suppose, as in the federal income tax code for the united states, that the representative consumer faces a wage income tax with a standard deduction. That is the representative con
(Granger, 1969, 1988), where it can be addressed in terms of a VAR (vector auto regression) system. If an export platform is important for the country, FDI inflows should result in
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