The Book ‘ A voice of Freedom ’ is written

If the firms under perfect competition have different costs, abnormal profits can be earned in the long run only by

In case of Giffens goods, price effect is

From the resource allocation point of view, perfect competition is preferable because 

Shifts in demand curve as shown in the figure below represents

A movement along a demand curve indicates that a different quantity is being demanded

This movement is due to

When the economist speaks of an increase in demand, he is usually referring to a ____________________

Elasticity of demand measures the

Pricing decision includes

Which one of the following is not the function of a managerial economist?

Elasticity of demand is based on which of the following factors?