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Why does the demand curve slope downwards?
As Figure above demonstrates, demand curve slopes downward to the right. Downward slope of the demand curve reads the law of demand i.e. quantity of a commodity demanded per unit of time increases as its price falls and vice versa.
Oligopoly can be characterized as follows: Small Number of Sellers: There are more than one sellers of a product though; the number isn't so huge in order to produce perfect
Contributions of economic theory to business economics According to Baumol, there are 3 key contributions of economic theory to business economics. 1. Practice of building
assumptions and limitation
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agency problems between shareholders and government
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