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Q. Explain about Gross Domestic Product? Gross Domestic Product:Value of all the services and goods produced for money in an economy, evaluated at their market prices. Excludes
what is the effect on the market for dvd players if the price of dvd rises
1. What is a resource market? 2. Describe resource demand and resource supply. 3. Define derived demand. 4. Describe the resource market demand and supply curve. 5. Define a te
what is discounting principle?
Indirect Utility Functions: Let qi denotes commodity i and pi is the price of that commodity. Let y denotes money income of the consumer. Suppose vi = pi/y. The budget constra
CASE STUDY IN RELATION WITH TOTAL REVENUE,AVERAGE REVENUE AND MARGINAL REVENUE
Location of industry and localization of industry: Location of industry tries to answer the key economic question "where to produce". It involves deciding on the area that an
determine if completeness and transitivity are satisfied for the following preferences defined on x=(x1,x2)and y=(y1,y2);if x>y or x=y and x2>y2,if for min{x1,x2}
Why narrowness of definition of a commodity may influence price elasticity of demand
b) Why is monopoly considered to be generally against public interests, and what policy instruments can be used to regulate monopolies?
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