Limitation of diminishing marginal utility
Limitation of diminishing marginal utility:
Income, taste and habit: When income , taste
Limitation of diminishing marginal utility
Limitation of diminishing marginal utility:
Income, taste and habit: When income , taste
Relationship between MC and AC
Relationship between MC and AC: MC always cuts the minimum point of production. Before point A, AC
Consumer Surplus
Firstly, this theory was developed by French Engineer A.J. Dupit in 1844. Later on it was reformulated by Professor Marshall.
Meaning of international trade
International trade is defined as the buying and selling of goods and services between two or more countries.
Sole trading concern
Sole trading concern is the simplest, oldest and in some respect, the most natural form of business organization in