Question
Concept of 'Consumer's Surplus' was evolved by
Solution
As first developed by Jules Dupuit, French civil engineer and economist, in 1844 and popularized by British economist Alfred Marshall, the concept depended on the assumption that degrees of consumer satisfaction (utility) are measurable.
The positive cross elasticity of demand between two products means the two products
Which one of these is an exception to the law of demand?
The goods whose demand is not tied with the demand for some other goods are said to have
Who introduced the concept of elasticity of demand?
Economics of scale means
Diamond-water paradox establishes the fact that
Which of the following is/are the causes of demand curves moving downwards to the right?
Movement along a demand curve as a result of change in price is known as
Dynamic forces operating in the economy create various kinds of economic fluctuations which are termed as trends in the economy. Which of the following...
When AR is constant, MR is
