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Economic Rent - Economic rent is difference between what firms are willing to pay for the input less the minimum amount required to obtain it. * An Example - There are tw
how do oligopolistic market and monopolistic competition react to change in demand and supply ?
what is the significance of the Loucas critique in political economy?
True public goods are those goods which can't be provided to one group of consumers, without being provided to any other consumers who desire them. Thus they are "non-excludable."
PanCakes Creations is considering franchising its single brand of pancakes to stall-holders on the Zandvoort beach, which is 5 kilometers long. PanCakes Creations estimates that on
Mathematical Derivation of ordinary demand function: Here we present the mathematical and more general proof of the above result. Consider, again, the initial price income sit
Valence Bond Theory Explains, but does not predict the shape. Valence Bond Theory Cannot explain colour and spectra. Valence Bond Theory Qualitative explanations; does not expl
PARALLEL ECONOMY: What is in popular parlance known as black money, and is, misleadingly called the 'parallel' economy, (as it operates very much with and within the legal, fo
what is the relation ship between mp,tp,ap
Reasons for development planning: To maximize the utilization of economic resources: The resources of any nation are not always enough for her use. In this wise, resources mus
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