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?
For a certain shoe factory the fixed costs are Rs 200,000, selling price is Rs 2000 per pair of shoes and variable cost is Rs 1200 per pair, what is the breakeven quantity?
Calculate the economic profit for a firm if its total revenues are Rs 180 crores, explicit costs are Rs 95 crores, and implicit costs are Rs 25 crores.