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What is the demand function
It should be noted that by demand function, economists mean entire functional relationship which is the whole range of price-quantity relationship and not just quantity demanded at a given price per unit of time. Or we can say, the statement, 'the quantity demanded is a function of price' implies that for every price there is a corresponding quantity demanded.
what is the theory of firm?
Arguments for Uneven Distribution of Income and Wealth The basic economic argument to justify large income inequality was the assumption that high personal and corporate income
Using the discounting principle calculate the present value of an annuity of five years at Rs. 500 payments made at the end of each of the next five years at 10% interest. stion..
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2.
Determinants of Demand Price elasticity of demand fluctuates from commodity to commodity. Whereas the demand of some commodities is highly elastic, demand for others is highly
Arguments against Monopoly However monopolies have been accused of the following weaknesses. Diseconomies of scale While the monopolistic firm ca
Peanut butter monopolist Calvé supplies peanut butter to Albert Heijn in an isolated village. The supermarket is a monopolist in the village. Demand for peanut butter is given by:
exaplain cournot''s duopoly model with graph?
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Q. Time Factor for Determinants of Demand? Price-elasticity of demand depends moreover on the time that consumers take to adjust to a new price: longer the time taken, greater
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