Ramesh starts his journey by walking 2 kilometres towards North. Then he takes a right turn and walks 1 kilometre. Again takes a right turn and walks 2 kilometre. Now which direction is he facing?
The change in the optimal quantity of a good when its price changes and the consumer’s income is adjusted so that she can just buy the bundle that she was buying before the price change is called?
If the average total cost are Rs 54, total fixed cost is Rs 45000 and quantity produced is 2500 units, find the average variable costs (in Rs) of the firm?