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Microeconomics

Subject Info

Lesson: 7

Notes: 40

Videos: 0

Exercises: 0

Practice Test: 0

Skill Level: Medium

Microeconomics for BBA

Types of Microeconomics

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Introduction to Microeconomics

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Income elasticity of Demand

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Demand Function

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Supply Function

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Price elasticity of Demand

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Price Elasticity of Supply

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Cross Elasticity of Demand

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Consumer's Equilibrium

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Indifference Curve: Meaning, Assumptions and Properties

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Cardinal vs Ordinal Utility and Marginal Rate of Substitution

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Income effect: Derivation of ICC and Engel Curve for Normal and Inferior Goods

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Price Effect: Derivation of PCC and Demand Curve for Substitutes and Complementary Goods

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Substitution Effect

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Decomposition of Price Effect Into Income and Substitution Effect

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Law of Returns to Scale and Law of Variable Proportion

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Concept of Total Product, Average Product and Marginal Product And Production Function

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Concept of Isoquant

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Optimal Employment of Two Inputs

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Principle of Marginal Rate of Technical Substitution and Cobb-Douglas Production Function

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Short Run Costs

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Graphical Representation of Short Run Costs

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Long Run Costs and Cost curves

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Long Run Costs: Meaning and Derivation

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Revenue, Relationship of Revenues with Price Elasticity of Demand

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Revenue under Perfect Competition and Imperfect Competition

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Various Concepts of Costs

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Profit Maximization and Equilibrium of a Firm

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Monopoly: Meaning and Characteristics

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Equilibrium Price and Output Determination in Monopoly

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Equilibrium Price and Output Determination under Discriminating Monopoly

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Oligopoly

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Price and Output under Second and Third Degree Discrimination

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Equilibrium Price and Output Determination Under Perfect Competition

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Equilibrium Price and Output Determination under Monopolistic Competition

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Rent: Modern Theory of Rent

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Interest: Loanable Funds Theory of Interest

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Liquidity Preference Theory of Interest

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Profits: Dynamic Theory and Innovation Theory

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Wages: Marginal Productivity Theory of Wages

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