DTRM NATION OF LONG-RUN NORMAL PRICE

DTRM NATION OF LONG-RUN NORMAL PRICE Market price may fluctuate owing to a sudden change either on the side of supply or on that of demand.big arrival (If fish, for instance. may depress its price in a particular market. A sudden heat wave may raise the price of ice...

MARGINAL UTILITYOF MONEY INCOME

MARGINAL UTILITY OF MONEY INCOME Marshall assumed that the law of diminishing marginal utility applied to money too. But the recent view is that it docs not, It is said that the marginal utility or money rises and rails depending on the level of income as is shown by...

Smartness Marina Preference Theory

Smartness Marina Preference Theory Armstrong is essentially  orthodox cardinal and stands in Marshall’s erudition. lie has fill gad his own tools establish agriculturalist. I theory is schuss two interdependent concepts,uncertainty aim indifference. We have seen...

Relationship Between AR and MR

Relationship Between AR and MR Let us consider the relationship between marginal average and total revenue at previous levels of output more fully with the help of a table given below. This table represents a situation of a hypothetical finn. Price of 11th unit minus...