In this article we will discuss about:- 1. Meaning and Definition of Marginal Utility 2. Salient Features of Marginal Utility 3. Kinds 4. Measurement. Meaning and Definition of Marginal Utility: Utility is defined as the want satisfying power of a commodity or service. When a commodity is consumed the want of a person is satisfied. […]
Marginal Utility: Meaning and Features | Commodities | Microeconomics
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Law of Supply | Commodities | Microeconomics
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In this article in we will discuss about:- 1. Meaning of the Law of Supply 2. Assumptions of the Law of Supply 3. Schedule 4. Curve 5. Reasons for Operating 6. Exceptions. Contents: Meaning of the Law of Supply Assumptions of the Law of Supply Supply Schedule Supply Curve Reasons for Operating the Law of […]
Theory of Factor Pricing: Meaning and Need | Microeconomics
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In this article we will discuss about:- 1. Meaning and Definitions of Factor Pricing 2. Need for a Separate Factor Pricing 3. Perfect Competition during Short Period 4. Imperfect Competition 5. Criticisms. Contents: Meaning and Definitions of Factor Pricing Need for a Separate Factor Pricing Factor Pricing under Perfect Competition during Short Period Factor Pricing […]