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Q. What do you mean by Market Structure?
Market economy pricing is conditioned by market structure. There are various forms of market structures. Perfect competition is accorded great importance as a market structure. As a theoretical mode, neoclassical and classical economists presume conditions of perfect competition.
The market is an assemblage of conditions in that sellers and buyers come in contact for the purpose of exchange. Market situations differ in their structure. Different market structures channel the behaviour of sellers and buyers (firms). Further, different prices and trade volumes are fashioned by different market structures. Again, all types of markets aren't equally efficient in the exploitation of resources and consumers' welfare also differs accordingly. Therefore the aspects of pricing process must be analysed in relation to various types of market.
The comparability principle Associations representing workers providing services - clerical, postal, teaching, etc. - have always attempted to apply the "principle of comparab
Consumer Demand is how much of something that consumers are wanting. A company requires to know the consumer demand so they know how much of a product to build.
Q. Avoiding Surplus and Inadequate Production? Demand forecasting is essential for the new and old organisations. It is somewhat necessary if an organisation is engaged in larg
what is equi marginal concepts?
Equilibrium Income In this model, aggregate desired expenditure has three components: Consumption, Investment and Government Expenditure:
Q. Explain Mark-up pricing? In addition to using above methods to conclude a firm's optimal level of output, a firm can also set price to maximise profit. Optimal markup rules
FACTORS RESPONSIBLE FOR WAGE DIFFERENTIALS WITHIN THE SAME OCCUPATION i. Differences in the environment: For example a doctor sent to North Eastern Province must be pai
Describe the Forecasting method in managerial economics It is a technique or a method to predict many future aspects of a business or any other operation. For illustration, a r
ChoppinAxe is a little Swedish firm that produces wood planks and operates in a perfectly competitive market. Each firm in the market has the following total cost function:
a. Explain why the demand for a particular brand is more elastic than the demand for all cigarettes. If Lucky Strike raised its price by 1% in 1918, was the price elast
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