QnA - Dev Library Questions and Answers

Asked by Kapil
Latest Answer: 93 days ago
In: Commerce

What is the alternative name of macroeconomics?

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Asked by Kapil
Latest Answer: 93 days ago
In: Commerce

Explain the two basic conditions of consumer's equilibrium assuming that the consumers only two goods.

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Asked by Kapil
Latest Answer: 93 days ago
In: Commerce

"Monopoly firm is a price marker" - Explain.

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Asked by Kapil
Latest Answer: 93 days ago
In: Commerce

Write down three characteristics of monopolistic competition. State whether the output produced by a firm under such a market is higher, lower than or equal to that of a firm under perfect competition.

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Asked by Kapil
Latest Answer: 93 days ago
In: Commerce

State the distinction between explicit cost and implicit cost. Give one example of each of them.

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Asked by Kapil
Latest Answer: 93 days ago
In: Commerce

Explain the law of supply with the help of a supply schedule.

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Asked by Kapil
Latest Answer: 93 days ago
In: Commerce

Explain briefly any four factors affecting supply of a commodity.

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Asked by Kapil
Latest Answer: 93 days ago
In: Commerce

State any two assumptions of the law of variable proportions.

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Asked by Kapil
Latest Answer: 93 days ago
In: Commerce

Define the term 'long-run' as used in production.

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Asked by Kapil
Latest Answer: 93 days ago
In: Commerce

If the total utilities of 4 and 5 units of a commodity for a consume are 56 and 60 respectively, calculate the marginal utility of 4 units of it for him. 5. State any two exceptions of the law of demand.

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