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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.
Suppose that the price elasticity of demand for cereal is -0.75 and the cross-price elasticity of demand between cereal and the price of milk is -0.9. If the price of milk rises by
Demand for money The demand for money is a more difficult concept than the demand for goods and services. It refers to the desire to hold one's assets as money rather tha
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2.
Interest and the Keynesian Liquidity Preference Theory Interest is a factor income in that it is considered to be payment to or return on capital in the sense that it is payme
PUBLIC EXPENDITURE The accounts of the central government are centered on two funds, the Consolidated Fund, which handles the revenues form taxation and other miscellaneous re
Q. Types of production function? Production function is of two different forms: The variable proportion production function The fixed proportion production functio
Q. What is Marginal cost curve? MC curve is also 'U' shaped as in Figure below. Marginal cost curve falls initially but then reaches a minimum point and lastly rises. Shape of
Ann owns a lawn-mowing company. She has 400 lawns she requires to cut every week. Her weekly revenue from these 400 lawns is $20,000. Given an 18-inch-deck push mower, a laborer ca
Describe and answer in economic terms a managerial decision you have knowledge about (for example one that has to be made at your place of employment). Some examples of decisions a
Average Revenue (AR) This is the revenue per unit of the commodity sold. It is obtained by dividing Total Revenue by total quantity sold. For a firm in a perfectly competiti
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