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Area of a triangle = 1/2 × b × h => 1/2 × 14.8 × 8 = 59.2 cm²
Which one of these is an exception to the law of demand?
When price elasticity of demand is unity, the total expenditure:
The above curve is a
Which one of the following is not the function of a managerial economist?
The statement, "The elasticity of demand may be defined as the percentage change in quantity demanded which would result from 1 percent change in price"...
If the firms under perfect competition have different costs, abnormal profits can be earned in the long run only by
When the economist speaks of an increase in demand, he is usually referring to a ____________________
Concept of 'Consumer's Surplus' was evolved by
Market demand for any good is a function of the
Demand analysis includes
