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When total revenue to a firm is unaffected by small price modifications, then demand is: (i) Relatively price elastic. (ii) Relatively price inelastic. (iii) Unitarily price elastic. (iv) Vertical. (v) Horizontal. Can someone help
Name the institution that acts as a custodian of nation’s foreign exchange reserves? Answer: The Central Bank is an institution that acts as custodian of natio
State the Law of supply and explain the factors that affecting supply of commodity
Explain the concept of “economies of scale” and “increasing returns”.
What is the role of price in market economies?
When doubling your viewing of soap operas to 16 hrs per week reasons your IQ score to drop/fall from a mastermind level of 140 to a sluggish 70, your TV elasticity of brain power will be: (i) + 1.0. (ii) zero. (iii) – 1.0. (d) +0.5. (e) -0.5.
Why the value of MPC is not greater than 1? Answer: This is because change in consumption can never be more than change in income.
Definition of equilibrium price: It is the price which balances quantity demanded and quantity supplied. The equilibrium price is frequently termed as the "market-clearing" price since both buyers and sellers are p
Whenever the price of a good all along a demand curve is modified since of a change in supply, the substitution effect is the modification in purchases of a good which result from a change merely in: (1) The associative price of that good. (2) Consumer tastes and prio
How would your policy proposals influence the market for parking?
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