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Importance of Cross Elasticity Knowledge of cross elasticity is necessary when the government wants to impose a tariff on an imported commodity to protect a domestic industry.
The Determination of the Value Money Since money is primarily a medium of exchange, the value of money means what money will buy. If at one time a certain amount of money
marris'' model of managerial enterprise?
How economics contributes to managerial functions However economics is variously defined, it's basically the study of logic andtechniques and tools, to make optimum use of ava
howw much should the firm produce to maximize its profits
We can analyse the equilibrium of a firm under Perfect Competition in both the long run as well as in the short-run. SHORT RUN EQUILIBRIUM OF A FIRM UNDER PERFECT COMPETITION
A firm faces a perfectly elastic demand for its output at a price of $6 per unit of output. The firm, Though, faces an upward-sloped labor supply curve of E= 20w-120 W
The Spendthrift Economy This assumes a circular flow of income in a closed economy with no Government sector and no foreign trade. It also assumes the existence of two sect
what is segmentation
Determine the Managerial economics techniques Though the most frequent applications of these techniques are as below: Risk analysis: Numerous models are used to quantif
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