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What main features are found in oligopolies? Assumptions of oligopoly Four or five firm concentration ratio Frequently there are benefits of scale to be had Merg
Marketing Economies: These are derived from the bulk purchasing of inputs and bulk distribution of outputs. A large firm is able to buy its raw materials in larger quantities
what is money? functions
Definition and graph of centralized cartel
Economic policy efficiently: The reason for poverty and misery in the developing countries is not essentially the lack of potentialities or resources, human or material, but t
How is consumer utility calculated?
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Non-existence of Objective Probability Distributions : Let us see why expectations are volatile in nature? According to Keynes (1936, pp. 149): "Our knowledge of the fact
please may you explain this concept
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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