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what is iso-product curve
Production Function Models
concept of supply and the factors that affect the supply
Externalities: Many economic activities have collateral effects (at times positive, but more often negative) on other people who aren't directly involved in that activity. Illustra
why mrts should convex to origin
SUMMARY OF THEORY OF PRODUCTION
discuss the law of variable proportion with the help of isoquants
Liberalisation of the Economy: Removal of Industrial Licensing: All industrial licensing was abolished but for a shortlist of 18 industries related to security and strategic
state the law of downward sloping demand
Price Discrimination: occurs when the same product is sold at different prices to different consumers. A monopolist divided his consumers into groups and sells his product at vary
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