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Ask QuestionPosted by Neetu Maggo 6 years, 5 months ago
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Karan Varshney 6 years, 5 months ago
Posted by Rik Das 6 years, 5 months ago
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Sia ? 6 years, 5 months ago
C = 300 + 0.8Y
Y = C + I
Y = 300 + 0.8Y + 700
Y - 0.8Y = 1000
0.2Y = 1000
Y = 5000
National Income = Rs.5000
Posted by Rahul Sharma 6 years, 5 months ago
- 1 answers
Pragati Soni 6 years, 5 months ago
Posted by Rahul Sharma 6 years, 5 months ago
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Posted by Kanika Rastogi 6 years, 5 months ago
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Posted by Jayant Gehlot 6 years, 5 months ago
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Yogita Ingle 6 years, 5 months ago
Earlier, in barter system, if a person intended to buy a particular commodity, he had to sell another commodity available to him as a price. This is because any common medium of exchange was not present and this led to the exchange of commodities for commodities. Hence, purchase and sale were bound to be made at the same time in case of any transaction.
Posted by Priyanshu Kansal 6 years, 5 months ago
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Posted by Ankit Tomar 6 years, 5 months ago
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Sia ? 6 years, 5 months ago
GDP deflator is equal to: GDP at current prices divided by GDP at constant prices
Posted by Gur Kirat 6 years, 5 months ago
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Sia ? 6 years, 5 months ago
Green Revolution is the increase in agricultural production that has been made possible by the use of package technology. It was started in 1965 with the first introduction of High Yielding Variety (HYV) seeds in Indian agriculture along with chemical fertilisers, insecticides and pesticides, farm machinery and irrigation. It has led to significant improvement in agricultural production.
Posted by Rohit Kumar 6 years, 5 months ago
- 1 answers
Yogita Ingle 6 years, 5 months ago
At Break even point, the price is just equal to minimum of SAC and the firm earns normal profit. In such a situation, the firm continues production but the revenue earned is just equal to meet its fixed and variable costs. On the other hand, Producer's equilibrium is defined as a state where a producer is earning maximum possible profit by producing a particular level of output. Here, producers do not have any incentive to move away from this point(i.e. to increase or decrease production) because such deviation will reduce his profits.
Posted by Vipasha Dedha 6 years, 5 months ago
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Posted by Biki Mè 6 years, 5 months ago
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Posted by Jayu Khatawate 6 years, 5 months ago
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Posted by Rahul Sharma 6 years, 5 months ago
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Sia ? 6 years, 5 months ago
The infant mortality rate during the British period was 218 per thousand.
Posted by Rahul Sharma 6 years, 5 months ago
- 1 answers
Sia ? 6 years, 5 months ago
The infant mortality rate during the British period was 218 per thousand.
Posted by Ayushi Sharma 6 years, 5 months ago
- 3 answers
Sia ? 6 years, 5 months ago
Yes, it will be included in the national income as people living in such houses enjoy housing services similar to those in rented houses.
Ayushi Sharma 6 years, 5 months ago
Rahul Sharma 6 years, 5 months ago
Posted by Barani Gomathi 6 years, 5 months ago
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Kartik Bidhuri 6 years, 5 months ago
Posted by Abhay Kumar 6 years, 5 months ago
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Posted by Sneha Agrawal 6 years, 5 months ago
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Posted by Kanika Rastogi 6 years, 5 months ago
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Posted by Nishad Nishad 6 years, 5 months ago
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Karan Singh 6 years, 5 months ago
Posted by Sumit Raj 6 years, 5 months ago
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Posted by Aman Sodhi 6 years, 5 months ago
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Posted by Krishnanand Mishra 6 years, 5 months ago
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Sia ? 6 years, 5 months ago
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Posted by Pawan Kumar 6 years, 5 months ago
- 3 answers
Piyush Patel 6 years, 5 months ago
Yogita Ingle 6 years, 5 months ago
Because the time of partition in India many fertile lands went to Pakistan and this was the main cause of food shortage in India after partition.
Posted by J M Cover Songs 6 years, 5 months ago
- 1 answers
Gaurav Seth 6 years, 5 months ago
Condition of consumer's equilibrium (in case of two commodities)
Consumer's equilibrium in case of two commodities through utility approach is attained when ratio of MU of a commodity to its price becomes equal to the ratio of MU of the other commodity to its price. Symbolically it is expressed as 
i.e., ratio of MU of commodity x to its price 
s equal to ratio of MU of commodity y to its price 
The equation also implies if price of commodity x is equal to price of commodity y (if Px = Py), the consumer will attain equilibrium when MUx = MUy.
It also means that satisfaction is maximum when a rupee worth of MU is same in both the goods x and y. This is proved in the following utility schedule of a consumer who has र 20 with him to spend on two goods x and y. Further suppose price of each unit of x (say tea) is र 5 and that of y (say biscuits) is र 2. How will consumer attain his equilibrium?
|
UTILITY SCHEDULE IN CASE OF TWO GOODS |
||||
|
Units of goods |
MUx |
MUx / Px (A rupee worth of MU) |
MUy |
MUy / Py (A rupee worth of MU) |
|
1 |
50 |
50 ÷ 5 = 10 |
24 |
24 ÷ 2 = 12 |
|
2 |
40 |
40 ÷ 5 = 8 |
22 |
22 ÷ 2 = 11 |
|
3 |
30 |
30 ÷ 5 = 6 |
20 |
20 ÷ 2 = 10 |
|
4 |
20 |
20 ÷ 5 = 4 |
18 |
18 ÷ 2 = 9 |
|
5 |
10 |
10 ÷ 5 = 2 |
16 |
16 ÷ 2 = 8 |
|
6 |
0 |
— |
14 |
14 ÷ 2 = 7 |
For obtaining maximum satisfaction from spending his given income of र 20 the consumer will buy 2 units of x (say, tea) by spending र 10(= 2 × 5) and 5 units of y (say, biscuits) by spending र 10(= 5 × 2). This combination of goods brings him maximum satisfaction (or state of equilibrium) because a rupee worth of MU in case of good x is 
and in case of good y is also 
= MU of a rupee or money). Remember, a consumer's maximum satisfaction is subject to budget constraints, i.e., the amount of money to be spent by a consumer.
One major limitation of Utility Approach is that it is measured in cardinal number (i.e., in exact numbers like 1, 2, 3 ....) and also utility being a subjective thing is incapable of being measured in exact numbers.
Posted by Karuna Khatri 6 years, 5 months ago
- 1 answers
Shruti Vohra 6 years, 5 months ago
Posted by Deep Ady 6 years, 5 months ago
- 1 answers
Yogita Ingle 6 years, 5 months ago
Relationship between Marginal Cost (MC) and Average Cost (AC) is stated below:
(i) When AC falls, MC is .lower than AC.
(ii) When AC rises, MC is greater than AC.
(iii) When AC is constant and minimum, MC is equal to AC.
(iv) MC is always to the left of AC and cuts AC from its lowest point.
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Sia ? 6 years, 5 months ago
A subsidy is a payment that a government makes to a producer to supplement the market price of a commodity. Subsidies can keep consumer prices low while maintaining a higher income for domestic producers.
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