QnA - Dev Library Questions and Answers

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Latest Answer: 14 days ago
In: Commerce

State the reasons behind the working of the law of diminishing marginal product.

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Latest Answer: 14 days ago
In: Commerce

What do you understand by returns to a scale? Write the meaning of constant, increasing and decreasing returns to scale.

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Latest Answer: 14 days ago
In: Commerce

Explain with the help of a diagram, how shifting of the supply curve of a commodity affects its equilibrium price and output.

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Asked by Kapil
Latest Answer: 14 days ago
In: Commerce

Mention four differences between perfect competition and monopoly.

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Asked by Kapil
Latest Answer: 14 days ago
In: Commerce

The Total Cost (TC) schedule of a production unit is given below. Find out TFC, TVC, AC and MC.

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Asked by Kapil
Latest Answer: 14 days ago
In: Commerce

Define and draw average cost and average variable cost curve. Why these two curve cannot touch each other?

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Asked by Kapil
Latest Answer: 14 days ago
In: Commerce

Discuss four features of the indifference curve.

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Asked by Kapil
Latest Answer: 14 days ago
In: Commerce

What is a monopolistic competitive market?

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Asked by Kapil
Latest Answer: 14 days ago
In: Commerce

What does price elasticity of supply mean? Briefly explain.

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Asked by Kapil
Latest Answer: 14 days ago
In: Commerce

What is the “break-even point” of a firm? At which point of the AC curve, a firm under perfect competition breaks-even?

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