QnA - Dev Library Questions and Answers

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In: Commerce

What is monopolistic competition?

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In: Commerce

Write down the concept of normal profit.

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In: Commerce

What is marginal product of an input?

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In: Commerce

Can there be some fixed cost in the long run? Justify your answer.

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In: Commerce

Mention any two important factors determining price elasticity of demand.

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In: Commerce

Distinguish between positive economics and negative economics.

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In: Commerce

What is a production function?

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In: Commerce

If there is no change in quantity demanded despite a change in the price of a commodity, what will be the price elasticity (ep) of demand?

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In: Commerce

What is an indifference curve?

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In: Commerce

What is meant by inferior goods?

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