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Demerits of direct taxes a. Heavy direct taxation, especially when closely linked to current earnings, can act as a serious check to productivity by encouraging absenteeism
In the city of Gelato the market for ice cream is perfectly competitive. Aggregate demand for ice cream is: where p is the price for one cone of ice cream. All ice cream pr
Consider an economy with two individuals. Individual 1 has (inverse) demand curve for a public good given by P1=60-2Q1, While individual 2 has (inverse) demand curve for the public
It indicates the amount of output by that long run output of the firm under monopolistic competition falls short of the Ideal output. This is regarded as wastage in monopolistic co
how manager can apply scarcity and oppotunity cost in managerial decision making
critically analysis the profit maximisation theory of business firm and illucidet the role of profit in business
Let there be two consumers A and B, each buying at most two units of a good. A values having one unit at £10 and having two units at £12 whereas B values having one unit at £8 and
The Central Bank These are usually owned and operated by governments and their functions are: i. Government's banker : Government's need to hold their funds in an ac
Number 1 work: Week 4 Discussion - Empirical Demand Function and Forecasting The empirical demand function can be used in conjunction with historical data to predict pricing and
Demand-pull inflation is when aggregate demand exceeds the value of output (measured in constant prices) at full employment. The excess demand of goods and services cannot be met
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