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Q. What is Monopoly?
The term 'Monopoly' has been derivative of Greek term 'Monopolies' that means a single seller. So, monopoly is a market condition in that there is a single seller of a specific commodity who is known as monopolist and has complete control over the supply of his product.
PRODUCT DIFFERENTIATION Product differentiation describes a situation in which there is a single product being manufactured by several suppliers, and the product of each su
When is production profitable according to price-taking firm at profit, break-even or loss? Production profitable at profit, break-even or loss: a. When TR > TC, in that cas
The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-2.5Py+7.5Pz
Controller of Credit The principles of credit control by the central bank were discovered and enunciated after the publication of Bagehot Lombard street in 1873. Even after 187
theory
determinants of price expectation of elasticity
Basic textbook models, such as the Mundell-Fleming model, say that capital inflow happens due to the domestic interest rate being higher than the world interest rate, and therefore
TYPES OF BUDGETS 1. Deficit budget If the proposed expenditure is greater than the planned revenue from taxation and miscellaneous receipts, this is a budget defic
Cheap Labour It is often argued that the economy must be protected from imports which are produced with cheap, or 'sweated", labour. Some people argue that buying foreign
Collective bargaining Collective bargaining refers to the whole process by which trade unions and employers (or their representatives) arrive at an enforce agreements. Tra
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