# INTRODUCTION : We have already studied about supply and demand analysis and how the markets tend to move toward their equilibrium prices and quantities. Price of goods will automatically adjust themselves so that quantity demanded must be equal to supply of commodity. But sometimes, in case of certain commodities the govt intervenes and fixes some [...]
Profit maximization is a process by which a firm determines the price and output of a product that yield the greatest profit. A producer's equilibrium is a situation in which he maximizes his profits and minimizes his loss. There are two methods for determination of Producer’s Equilibrium: Total Revenue and Total Cost Approach (TR-TC Approach) Marginal [...]
INTRODUCTION : Economics is all about human behavior, concerned with allocation of scare means in such a way that consumers can maximize their satisfaction, producers can maximize their profits and society can maximize its social welfare. It is broadly classified into two parts : Micro economics Macroeconomics Microeconomics studies economic relationships or problems at an individual [...]