Perfectly inelastic demand problem
When will an augment in supply entail a raise in price however no change in quantity?
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In case of perfectly inelastic demand, a raise in supply leads to a raise in price although no change in quantity.
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is the price in the law of demand an absolute price or a relative price
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I have a problem in economics on Marginal factor Costs. Please help me in the given question. The synonymous words marginal factor costs or marginal resource costs signify to the: (i) Cost incurred in generating an additional unit of the capital. (ii)
Price of related goods: a) Substitute goods – Whenever the price of substitute goods raises they become dearer whenever the price replaces goods falls they bec
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