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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.
Marginal Utility The extra utility derived from the consumption of one more unit of a good, the consumption of all other goods remaining unchanged. The hypothesis of dimin
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
Q. What do you mean by External Economies? External economies arise outside the firm as a result of improvement in industrial environment in that the firm operates. They are ex
the overall idea of market segmentation
A firm producing hockey sticks has a production function given by X = 2 KL In the short-run, the firm's amount of capital equipment is fixed at K = 1000. The rental rate fo
Enumerate the Scope of managerial economics The scope of managerial economics contains following subjects: 1. The Theory of demand 2. The Theory of production 3. The
p=10, TC= 1000+2Q+.01Q^2, Q=?
Producers Equilibrium or Optimal Combination of Inputs The analysis of production function has demonstrated that alternative combinations of factors of production that are tech
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
types of capital budgeting
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