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What is meant by non Price Competition? In which market structure does it exist?
None price competition is an effort put by the supplier to earn extra profit without enhancing the price of the commodity. For example, suppliers announce some prize schemes or announce some extra advantages with the commodity. It can be present in each competition except Monopoly.
Conventions as a Basis for Forming Expectations : Since there is little objective basis for probability distributions about future yields, decision-makers have to act on the ba
Risk Neutral - A person is a risk neutral if they show no preference between certain, and an uncertain income with the same expected value.
#questThe demand for and supply of labour in a certain industry are given by the equations Nd = 400 - 2w Ns = 240 + 2w Where Nd ( is the number of workers employers want to hire
what is the application of consumer surplus
Average product and marginal product: Average product (AP) is the output per unit of the variable factor employed. In other words, it is the productivity of the variable facto
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Inflation is defined as
short run equilibrium of the industry
Q. Explain Nominal GDP? Nominal GDP: Nominal gross domestic product measures total value of all the services and goods produced and traded for money in the formal economy, eval
Difference between accounting profit and economic profit: The difference between accounting profit and economic profit is that economists include in total cost of production b
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