Question
What was the purpose of the Local Currency Settlement
System (LCSS) introduced between India and UAE?Solution
The Local Currency Settlement System (LCSS) between India and UAE aims to revolutionize economic relations by reducing dependency on intermediary currencies like the US Dollar and simplifying cross border transactions. Â
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 becauseÂ
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?
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