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how do oligopolistic market and monopolistic competition react to change in demand and supply ?
1. Calculate price elasticity of demand and supply for the following functions when (a) P=8 and (b) Q=6. i. P= 40 - 0.5Q ii. Q= -40 + 0.75P iii
explain normal profits
Q. Explain Labour Intensity? Labour Intensity: Ratio of labour effort expended, compared to total on-the-job compensated labour time. A higher ratio of labour intensity reflect
What are the factors that producers in the society may take into consideration when deciding on the what to produce,how to produce and for whom ?
A market is nothing more or less than the locus of exchange, it is not of necessity a place, but easily buyers and sellers coming together for transactions. Transactions happen
The process of production needs several inputs. These inputs are known as the factors of production. In most cases, firms own some of the factors of production while some have to b
an explanation of the meaning of price ceiling
what are the properties of cost function
Briefly discuss the components of macroeconomics system with suitable explanation
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