MiE

Demand functions: How to read?: In our last quiz, we saw some demand equations with questions on elasticity, inferior/normal good, complimentary or substitute good, etc…

Golf champion Tiger Woods discontinued Stanford Univ. education midway, not because he failed: The following basic concept of Micro-economics can be used to explain the situation mentioned in this question-
The central idea of economics is that people make “purposeful” choices with “scarce” resources, …

Mushrooming of Management colleges in India: This question can be explained using the three facets of the market economies..

Is playing with price actually paying the price?: We have heard of terms such as subsidizing, limiting prices to maximum or minimum, etc. Most of these acts are done by governments in order to prevent certain interests, …

Demand Elasticities: It’s a measure of sensitivity of the Quantity demanded vis a vis changes in price. In simple words, does quantity change too much or too little on increase/decrease in price.

Four Type of markets: Competitive market
Monopoly market
Oligopoly
Monopolistic competition

Supply Curve basics: A supply curve for a single firm tells us the quantity of a good that that firm will produce at different prices…

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