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    Micro Economics Notes By Saksham Katyal

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    29 views73 pages

    Micro Economics Notes by Saksham Katyal

    Uploaded by

    MOHAMMAD SYED AEJAZ

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    633.919 me ge Selatan yet — eer (ohabs app) rouse) be piv sec: Com: supsecr: — Sono .-__— r oe S.No. | Date Title raat | gumemarks 1 SyiLabus_and Question ee | a ive. |_thaptey 1 Fconomil pond. | Centred problems _¢} dan Economy 6 [£3 | tre. | Chapter 21 Consumes fput i bia Shie Ul she 19. [u_ | nie | chapter’ + Consumes Sui fbnium — Tndiffevence.lurive Analysis 14 | micro _| Chaplu4: Theory mand soft & | Micro | chapter S! foo Fetosin d) Demand ot | micro | Chaplet: froducHion findion &fehns | 38 K ea faclor & [mio | thaphey 2! Conaph f) (ost 42: a | micro )Chapirs &* Conteph _) Revenue yt ve | pice | othapiey 9 * Producey’s Sul Viniwm 5 u|_ wire | Chapter le * Tear, A. Supply 53 ve bint | tlhaplew + Fowm® Pals! eu 3 | m'eo | Chapter 2! Market tui rium, undey_| 7 “te petihon ond effeds 4 _ Shifts in "Demand 2 inp | ‘iret = is | — ts ee emma . ey we a i Aili a ae Unit 11 InNoduchon (Y marly) hi gireeelien ; ra) aath Mnepach feonomits , ftonomy eos Soe ss = 2 - ————Freblems on ater nie (aE. “leation shen ee it_move_thon oval eS ; Pe secure i Tp roce_ot = ity shor sland a _Erehieiteathon sy “2 + Resoncu ave limited fr vtiofin __inblaxn ____ on won _+# _+ + Resorts hove olnnative wees om ~ = aha Erpotiie Ropes oF Able. thee 22 i rE | feonomi aes isa problem Woted h Ah aloohion |. | Hip [fen Cope ted rs : —| teed due vt Lobinusits Reach “4 24 Resource, ove Umbded 10 relohon tp ouy tomb a fescurey have iii Utes 2 ) The concep Economics =| iris fesse Mico _teooomlla —deale sath ‘the econo isues ans _ceennmle_preblems ot the levels dan jndividual. U in indfidual 1 individual fivm pion Ee ee le Vidi dunal’ ermal ashost ol soupsiea ate ai | | vanes feenomin’s. Mao “fecnomits deals tcfth economic feats or i || s-eeononfic = problems cd the level dan econorhy. as a tohole- i ae sa. Bk | (oveby ua cho i a “Teather behoeen hiro. fondle and. Yiaew-Eronomics 4 i “Wine foroms Narto- frononnices Wow Eronomics _shudizs economic (oles Marva. feonomiee.s studies | eronomic pioblems satthe (ive) don sve problems cb the live) dean ecooven nom [hs fod fviidue). ou bavutohele: eee 2. fxomple ! ih Coun, toot!d Tndfuidual. produtiy Deis peatened with detiminalion 9". 1s concened vith deicerninakion | fds trl nd tuped fot on nasil fsa eqat outpud and geneva “nent 2 ame allege oT tsa e a a ear. Hier feenb mbes atsumes = Study \dhméeve economics sanioaaieble tinal ont Assur $hod - gaieyo-Voviabley 1 2 Nemalnyy Constand a ¥ Sib ra 3 RTO 40 £44 2 Beaming tbe natin veh 2 tmp economic ne aea such as: ae hy widishd , stale ro (ouhihy ai a toholewmnsivilly iyi fimo tohiod! tno Brodie = et [iti Hots too! Prd || for ishom fp Produce aa aI aa sees siti Yesourtes -—— \oho_fo_ roa o us ’ So every : cove limvted an oh al H bo tol fh ; P| eronomy fates feat tiki i to. more -petessi hy aes tate pci SS a a] aon [sf ti rpm has how dh re tiy “tohat Gens oid sewics ove bb be poduted pond fi) Tot qua od Seevies ane ab Produtad- 2 _j2 es eg gaa tthe thai { i q Acchrique 4, Production +» tohid i al} | used io pyoduehon » whether: Inbouy sient or fag {hr fotensFve é ‘abe ee oe d + =r iu ee dap ened [| fi hom te edie? “problem soles teste ' | cutpuy Cox inrome) Inthe etonom T¢_means how shou | the produte 4 _¢ennomy be dis hibuted arnong the —1o__the economy ae So == TT atcha Ht agp 8 Gow _| ty fartsra) dish bution _ sifitome -9 non ges ct | Lt) Jot = pestonal dish bation doco ¢q.jocame: sion a ae ae odehy. J T Z Galvham babe || «tient ye 4 sama dod os EE —H a __ ||. Marked Economy: Lis the one in which _d dections ga “that how and i tai tp pleas ot alten [market fester o)_ demand 2 Supply __________ |e Carita) Planned feoonmus: 2 “Telstbe onein sohidh deftions _ ie “what, how” and for whom fo produce axe | = Seti te a erat ai — ma hap a jhe_one_ whith decisions ely ned, | q 4 0 thom h_produte meal by rome ee miele “Ssnethfes 4 pinion } q ely otra mn tohich ov + usehul Tk \ f : - maximum prop owes er PEON ae (oho con offir b> pay for poster section igh pn jehyahy sci ti pi ra iHeveat Combinations 4 A} in be pooduted dolthithy efren veroust: i }- Reourus oe ful htakn qisonws lfechv ‘init sng apa ee ere esos = acho) eabph -hifira [ fotal _ ° Resourtes anein creased + ¥ | TF vesouvtes one lotreated, __. 2) ___||__ tre tan produce more.) =r || both 4 = aa The food a | coke a hi Cat : ya. 7 os ae | | ule : fesarrcer oe Reduted 0) a ie ea Sona dud TR vesourtes Lone Yeduited_, woe (on e > = a produce tess 6) pot the | geo: ¥ [2h Comedy 7 | | == ‘Salghom ThA i ea = 5 a soa _ lity £ Rhee Tecboeleg foy_the yw a froduction beth Xand 2 by Eigen dcchnele both x. 2 =. EF Gen Teco E andY_means_qyeady production» eC peereey - Kondytolth some he st Yesourtes ot Commsctiby ® =a j Y leet ni Gy) fPhceat Techoeloay fre tte_pro durton r ¢|_tormmodity 3X eth Gert | ae bs th eet _1 [ETI ct “try 4 es meontrnene. praduchion dl * | | Sha" with fare vesouvtey \ ja it al sie a a - z: \ ; - a oe _ MATT iE I8 Ah OBR additinal tava lal g (Effient: Teennclogy for tne | Production tonmodihy 7! Effient Jeenology for foamodl ly — [oo ie Roper gf Pe PPC hope » downicord Badughen jobs nie tape nse en xq fen esc, ty goats cannot be lncveased™ PEC i toncave bo the ofan? 14 is becalute BE A nonin LS 4 gn eppottnily = tat ze 10,000 aT ar VOD -ADOO E560 unk es fia wae Bat =O we Sais tine — ig __Biiovosyey = a | a Margin) Opgortutiby (ost — I Dae hs ial = Mingiral fate 4) Fronsformation_ ee Slope fh. Pre Froducton 4, Meet pga - Y. d U2may Une a= Consumers eyulimumaane DERE? °°” } P — ynUN, Analysis C Chapter=2 Consumer's nny = eee d = Totel_ubtly and ayafaal UAL pie Cielahon ships — BE | [iy okt only: Dis ne ea! ha, f ale init Comm ody « Bi 6i)_tayefaal Ub Vili T_ujs_to ude iacal ubth om ‘ |__areounte phe id) a = ie | ° MUnin = TUy = Tp) SalGham abd a. . 7° =o Morin ee tl RelaKonship betwee ns. Total UH Uh. end =| To ts tn sum bdo ae My. Ty = Emu. Equi baum > 0 Seek bong balanted hen TV _fneveases, | Mus postive. tohen To is moximum, MUiis sZern. | tohen Too fs decreasing, Mv is negative Saltshom kat [ | sa Tyjowosey | +1 Jato 4: Diminishing tional sh | ai -f} _Dirninehi fakin UAL hy cle that_os_moxe_ond | i f—_— fens cd d ee a ne pet © tommo ee ind waliy defied. ton 1] wish dedine ee additional “unit pas sd) laos {Oo Sa Shar init, qo tay om ee ae wo | Coneepha Lesnar ston sumer — Full jm ref a shh chon d)imdmam | fatifaction™ tohlle he Is spending Ws ‘poe a ao t oR A Consumer will be fn epuflibrium when he aulocata his income fo the puxthase ) d/Pferen! goads_Io_tuth a manner | euch Ahad = nist). Sa KebaMeonsuiss maximised | 1 1, pat o| magna) 1h hole) and Consumer's Epil um | How mith ommndily mayimay his _! aoe dt | Thre ee nt fond | When ee 1¢_-tommnod | i = when ean och Geismar ful um ls d tei “depends a followin ul co faa? duce weeaggeom fe pats MbAP Tu Ad Hed commodt 3 Mowe viol a mone (ronson: E ice Coisumey fquilibrin as a when | cn idee 0 Whuahion ‘ther Consumer 1s buyfag toe [toe concomer twill. be tn_cpufll Sui tahep Se ee 2 eee Ahoy tie Tae | Sel 4 f fox Y, ton imi weiW_be ln egutl taium_ oh _tohen ibe 23 S MY. = HU, = 4 . ele cz ae) [Frere tamgny equation ond (6. tens st belo Gp - [Se] oft hs hays ito commodities Xx ond ¥ thm ___} + { | | Muy = - 1 F i = a “ar —Ralsham Tabet + H* i aa eon ete of fue = a i + [florid Hons, tot unt | <5 One Commo dity dhs ooilox ore) tommodihes | te ta ay My © Regs at a & pl ty mat tongion 2° Masaiaal a. aint many oman Conse 3 Now df =i wg chi 4 Javs 4 tly ee pot lant a= “bu nd. ya mn che fo x Sahish_has £1 _He— san yx ond” == Flinn ene fp i Hl 4 i be fn_ep- TE 374 tohen Uy My My if in f ae , SS eee ae | Ss (ombinaton: = i | A= 9 una VN Tncame Spent = 28 E i [94 Combination: te X= Suni ; Y= units To come Spen} = E1) I | ies | unl : Table y . Cortbionton Nox d] pgs Noid) orange, « Boksham Kahyal nn 1 hes T is A OVO ONES } B 2 g aniss od le 3 6 é 2 | |p 4 4 ; | Chopler=3 — Consumer's tyuftbrium - _Indiefeirace lereve 4, feientes Sct ond Ind eve tarry 2 || Jodieevenee’ Curve Anal y | en _bydinal Concpt > || Tndifferenee Get? Tt ig sc ies combinations ¢) hoe-qands Aohith of fey tu _tepsumer the cams eve §salistaction: _> | tna Plernte tune « Dijiio uve Showing ceca fombinabons) | fe Oi sc ie) boomy od eath Combination offering * some : | the taki Seton tp ne onsumen: pats Se | Jndt Hama” tet of ] a helo Sed flere beve 2 | Morctonle Pefpvenauid Mua tensimer: A meont th teosomer ome gaa ae gt manga A + esas semnnrodity al ayp = ia. hey live \q “| satishection® (Wigan rea rae hy fa) i { \y pl ppenpard teat: ‘rung on fl food i negatively | | aiaedints Stensurgtin 6 xeote Ip One, Bentase | It Sopa | io tne). This _maky = etal 1c ie || downward. fi He tohich tv Marginal. fate 4. Lubsfhutfon + Thi. dis tho: See | SW ier A alg eens fre addtional. nis Good 2, = Thid sos knoe slope dp 1c Dis ‘meaured oy AY+ ke 7aK F #1) Tadf flee Uunyve 4g Comex to the orgin % | ! Diminiihiny Mes Yes, Te is pcoemally Convex titine AY ag TEES AY /ax) Hage” | ebay. Dieberoule the slope It rss = E fer} or Mes declines os we eet aad | “fom _Uift bb faite 22 Fis 7 Hs EY es) _ / Sroup a * fi ; “i > Todi Plesots Wap: A sla indffcrnesunve sk toons a - ote fMap- 2 jes he b : Bost \ " . —_— ia) Sei cit Sows hidhey bwe) a | : = thon. ;. = \ 4 as SS Se a -will i Ve Wa i), cnigjation: 2 | Mie ee shoto Sar Ue twel_o) bot Tstohi poy Intersect cath other | ropes ot thevotlita (nd fPene Gore ba Tt Slopes dovoningye Uy to sight 1 £ [a Slo 7 Ie india 3 sHighey “Te indicates ie hi 5 RS: a Awvel_ -faksfottion. += talchom Tah ag Ter J te TY deo! ince: ea ton: [[s- Tei convex fhe agin: & Te» re will pever touch ce fr on years 3 : i _#| Consumes faded Cle ob _oflud Budget Sebiiind sf celine 4 5 fossiby consumes iy iar + | Budget ei Ty xekers to “atonal st hoo jes en pos df teel ol ——— : £ Set (onsumey pi fachiveabl/ tembinahoos a font Una Good 2 sph Ronee 60. aoe Sahel zi Blunt Pio tine feo a thradeht fete. Fe PUN Teinod fy cae Yatton 3 ofen in I patie “ait! mated ess : Teo sss * Ariel Sloper: dowinusoved brratise the Consumer (on _bueysin'rnoxe tinted x elie he ad es unis fy. « [anit |_ intone ine fidget line cao Shift (or), tohen g " feosumney aia a = Saishon ompléd f= Eainddiel, unk > fe ipa fone = E60 Tocome"= Z|20 net Pao a X Shi Pt fn Dudeey Une Trai Pfevrote _lurtve Ana} Fhe cthiaHon ohién —fepsumer— -tmaxiniser is _tolis barkion-_Tin_4tvmns fodifleientes wir nalts ditions or Consumer vvtadhes = hiss qpHimimn thohs ‘when hoo tandit Beatt nunc ea Co ) mes fs ae A i [Spe ge — | (Tes tnitonver od the point d), equilib ¥ a IED sok Piel [Bahan ead i t= feiok 4 {lbajum | AYjoyosvey S oil Bac nines = PT 1 e | W Te he toes ott + = € —¥ | es sex Consume’ fyilGbiom- | | Le 2 f a c= SS |< Fi fotonalettehind Condon. fputlibium’ n }:_fpulibpaum’ | condtyen mamins= Pr sope ae = slope bie tine) =e we nal uf ots logon wold ied fq bxiuen soy ; 4 gant. hen MRBxy Safes Betise of po | ‘3 Genwi otnbrsbcit on mmorimse his | | £ Satisfaction: _ 4 | Re See Maaget tine 3e,, 15 andTts “inditatt £ ees “conswmersitoo!t_go_beyond iter we ss | F and tu! point os feb Li is owen 7 ox both f24 oye JG in_tomponson feu: d Tadi ferent ap Loneriby 4 Te sro Hh fonsv mes is aS vib ani 2 too pele i x This) tre vetidy ts i a ie ‘ se vanfoal Uhh 34 | Pt a " ax | or gate Pes nob GARG MDF pe 0 —|______opniation. Jo ue _hiation consumer will rontinws f if p—attne—tow_nn_ mine Ah s getiny higher Maven oily bom ih_pvewscuttessive turd «ind his Ye et {ossible 9 1 Saltham Tehal | eee a ee Sen. | etna fs casita mambety alse dusfve 240 ar Be woflifpgness 1s sits goecid ond _s _+ || The table ae bp price and quanbty demand ed scaled the || todfvidual Demand schedule» Tndfvidual_Demand_tintvt demand: Demand rrhes foiadtPberent | pos es urthased ot d/Pevents posefble prices dha “Sunnkhy Demonded : Guo oih pemanded ai o_o spec __to “tbe purchased agit 0 Speci Bi pri ri saa i Demand Schedule ond —prmand (use 4 |. demand Sehedulfes a torsvesits simply lai nepuscoiak ‘on nth denand aw a cee commodity 2 bane ea es sd gv ZG y ie 2 aS ~ Saluham 1 y Per Ty 5 3 2 2 lela SY10FOS1 64 un? 2 ea INS 4 I a a r ol Sey | vot > This attablethowing diffrent: Tels ‘a tune Showing diferent ‘quanhtia do tomy tint quantibes oc Comms thatore | | ossfhle pris |_| | 4 Layo pt yap roe te a quan || mov |ter ove | Ane! temmocti _xeod 3 4 Moke Demond ene dU oe ua + || Market Demand Guy ve! Tic the wre shovel 4 | firms }- od 9 pein dhe j o :

    1 Ben — x unt tor = Saluho| Tel THioyo4| Hj Demond fineticny ov Pekrmnanly 4 tymond co) tool able liay. frreand 1 ye _velotionabl bedweeo Me te} bie) the Commedhy: to theressis0n. fr }—piu— 4 the commod ond ik —dtmon d+ When...frhte. nso,.fl | demand full ond vie- veda 34 a de Related: Geode t thee dees hein sMyparsd) "reladedhgoocl.! | Thise_ave.Ihe--goods which tan. be cubsihited. Subsbhule Goods } foreach. elhier —_suthns Ane to ees oMlnnreate sn. fried} ene Cotter lneveate in demand for Ihe Mev ond vite versa ()-tomple mentary, Goods! hese _avt_thave qed rahi tomp\ute.hs demand fox _eKth offer ond_ov_deinastdicl _Iygctier such cs gen_and_inks Tn cnge , Ae qceds ,..0.fell in the prhta d). ane Course Inerease tn the demand”. ofbes ond vhs Vesa Snlesyonn Healy AOD NOY Totome ¢) the fonsuméy.$ arte jt0._In_tnue_ ol Wo mal Goody ' When the tncome 4 the -iniveoses , Histidemand fois neuinali géods. tnereases Land !! Norinal qaeds © ove those gti hich horn positive seloHonehie || Dehoeen “in tomes vind Hs “Aion demanded Vier Ve¥in + WW) Tn tose _f)_Tn|etior_ (pad Thre ove those goods in aspects thor le Pega tla dionshie behoen torotiv and quanti demanded When the intnmus | Consumes ineien-tes , his demand | tn in et epee detieg seve Newgate Vile verse, Tastes ond efereniis ! Demand fur thos Goods increase, fo : |e which tensu ner divelop shang Aasky and prclevennoy and vie fo Nena ae ne x 1 demand Stat id ; lghoo “nti tundont thee tonic [quantity demanded: ond pater ¢). lle poupiod: ttedidly hiik ade abba ala Joo By (3) Gy (vais) t WyowoNEy — ' 8 |, = tela 25 Se 5 - Syiezn : rk i sc Suiak feos | ae Assumption. d) The law.q Demand 2 Ie That is po chong in in: de pul Ps es _cvpillaead GR Gj veladeai gonds do “not chat —_ $+ Toskeond Relerenta Oo hve consumer Gre fondant: | if 4 oo one _signi change iA. dhe ag availabilty Commodi hyn i (al 0 Why doe Demands Cunve Slope Downward? } Powoncord Le jodi S| toneumner ites ila b. yl pl soils Antome thPeet +1 fall in piu ealuhom Bly [ : E! Sei oe Nae ae 7 e | drama for 0 ae tated —_ sf in deem non clemond Leth taph pot | elides Torteakéte-Derrond( fosusayde Sh it ands re flotlicavd. shift) « Causes d Inrvease in pemond + Causes 4, Decca s« Ymuupemno nd # n_inrome f) Consumer intyears 1. tohen income Sa falls 4 Subshhite Aoed Jorvenres 2 fis 4 cu bhite good detveases E L Comglemmby. goed fat. —_% fiw d) comple manly goed inrcose. [Based Consume “i To favo __¥._ Taste tf tonsumer 15 tot in favor E ae cot Is epected _S» _Avalloballhy of gand Is expected b__ = pz | fo vedi In™ fhe geo Pubic = ts toot Piet) Surly b. | 2 don : Ridomed Bes _ prmily cl Qoh vi to ah aur Hate Tnveate ) 0 Tek a ae Lane ~ Bitoyosey d [ 2 laa ee ab MSS ys ® 30 Ren oir a et aed a - Guoohhy- Guanhhy, Pe | iffrrene —behunees” | Changes fn Guonhly bandh 2 thas to demand «| ae fs __ | thang fn Shy__Demondat =e. eae fo_ Damon et D ocins dite thing. fo_prts I+ Te nts diueefo chong in_focbrs _— BN Witgy CorpmoditS = tthe ton price, _~_ 2.|| Th is velated tpn t_altng aR Dibiveloded to ithih tn Ee) demmomdnstsrve, = demand tune | sesulb Antwendensionfl donaod ST recut fr_jonvente ta ox fonteadtion! } demand: Sidéewote fo Demand ’ tegen | — a —Htorkos oi 38 bis demand ° Taree Wb Drang i Bs dui_fo_chang: 1 fe a ofty than pred) He tommodsl Th 4 mM th erenee in pivrhag Th fe Ip eae fh purchase Heo ie ak wishing iN vesult in movement colony aa wil sulbn spanisernd = les ls. ates uP dann ate [teomg, L i fromglt y aan Thnwox - Bec i 21 bb | , it in ts tons rode gt (oe = (ovaee | SSN —— EE oe illic Wo Sah at Piblene bihaeedidere te fr al eg ce tralia aa rm ods + trample ea itt obec TE ine pa alti sa ‘Tofional consumer, demand _fnt_t “decseases 0 people ill tonsy ms Tea onde Cir oly iF Ou A gin (erases , demand for _tolfer incre = atin to fy Lomplenuthn joo. frample tax ond pcos ah, yt pi 4, get) tne ee ty _dercases fh nenif pou __ po! we _tontedt “and similarly if rood ey Dacca pd ta 4 | | ison. i mh, ann - Hue _Taexeate (0b) 19 demand ie ee ay Hiioy os 64 = Ng FIN Ne, Derwaye (O30 10 dimond ef | So 5; Eee fe Kelernn ship behneen Cfo tien been and % ee he sation - om sn th © There is -posiiv sdahbnehip Glare ee ond sino As loco Jo creagkes _demond fox nor ods nrrcose gad viu=vebas ocomne_t) 1 foior mat tos Bool Tinga p “ ronsumer_o0* Aoeen a As Income Ah fonsuro t _pondi_derreases— : Pe bb -foimel_goot ood vite sods have, Tie 9 nd demo 1 Dettand foto tommed! “anable _rhory in T2P—taillacsull io jorease in _tontust [ deond _tshireas” a unfavourable chanst In Taf wil Kult hy _demense to Demand = thy, be Fi : a a = z fevouralle thot (a> b) 'r # We \a> Unfovorradte thay se) 4 “" Of. Demand ie defined av qumasnement hin 29%. fp qwanhly’ demanded a8 ruth = | ote r : : J Suandhys i es Clash : Unitary laste | ox than Unley flask (teen DeMond, Demand mse) et |) | ted fred yd Fedo ond eg \ Supe pes Benay) our _on thaple-¢ Reduction finetion and tebvins fo [ Onbpud neds Fnpit land Laboure-ond, = temmonisinpu for the prod 5 loinoub on | fackors_o) Aoductions are th Ly Axed Fretvs tH) Li a a ine, land e+ “Ahy _tho _ in_owtpd —E SE a, hy at Thee tha_-ngp lita fon ich thans! - iM hang to sup _ | Fixed fac nat dhe abe applic Se vVowabls_pathy 2 a Pm om al ppd prods | a) fons 4. vovinbl: Pact usta) in tn polis | ty production His oto called Tote) teh Gh Me. __ [wort fart : : mana) fede imi): snes fo thonge fo TP soho one = 3 - moe_unlt df Nor‘able fot is uu feed fatho oN fi «pe TMy-TMhey oy TR BrP _ & {{ i | fuera Reduck (A: B velo fo_oukpub pec uit edhe Le) voriobl fachr ted inthe _protess ie Qroduchim- ae tt Vs Netiabke froga tic he f Stace that os moe and more, tombined wit ay xed ines patil uM so EN fet ¢ ‘ultenadely belo. 2eW. i a _ tak Kin 7 Toe edu Yerysfoal Froduet a oe S il bas all aes 1 iiiliee aso a “2 a iz s fillies 1 f Be. 1 a ci 9. P Zew and Negali< 1 8 M aA af Assumption 4 lai + 5 : foie | yl thud) Production tan be hated = f.2._ Technolo fol thang eS & Unis 9 ~ vorabe fachrs tf home genes in Me eer ia r a: ree ta facto: Hovey fuller fixed factor t Division u labour and | In tveake int fides J . Bede tna tbe ‘te factors thd # vai eer tage no. i bet Qf begat Jot Sibh habl bi ean (Bredi=Vorsobu foot coordination! behseen Ah ns fl pel Fs“ =| God he 2 a viata I it! ah = ‘ | "i 5 oe Hage) fee | Stage 1") = = r I “ S : re a5 ls ' = ss aes ig np SS = [> |e 5 |e —— > of get sd wel stage 0 : S = eee as oe | = | = j = ! ‘ ols x | lbbouy — ee: i ‘ ; $+ || (et ponemmend 4 the aves | : in techrinlegy * I Je [tober thee is improveme xed Lathe is discovered. 2 | then some _cubshinct d) A Rplation Pelion sbehsern. iy Te am? aed Gb alawe | Unltd thi Tota ee | tond wih oduct ie Arig. 5 a z el i ss = Cl 7 te rr m ee 4 ui Saksham Be Pit Teafyet = Ie oyeyoNEy 6 aig = — + as = 8 WW oS be tahen 9? isdoevtasin, 12 is i ep SO Netrecne lp ora 2 lohen Pls aerweashng 1 ak decreasing, syatls 3 then 1220, TP és smoxximusm Tellae ne | Dae 0 = 4 stone whiis negative iTt star's ae Arcreasing « Ls bey “4p + Relation plo Ae ere - abot Lud) vata fatter). hen AP Yonveases, Me> Ae | _a When AY dereages, AP> MP | Se vohen APIs ‘mnie mum, Ace tae 14192 tna _be ne: neal, fur AP nahirug, by be pos ose + k= 7 rage 3. (a Chapin d= ConupHt ost _ Se Bp a a . Cosel ox Implicit onthe factor af el __| inputs Shy oahu amount CT pf a_tontino AUC farioe apsb Oho Inn, abou Caglil — _atsinm eee you ma}etal» gape ssres pot be purchased “From Ate mms B | pedut moby use Sime sclF -0 woed -ingits fs fe isles measned a ype tri _Cost (ost | Cinplict 4 Bopllc) [epi sks Dic tHE Dppentily Gat 0, tip ancing = ipo hem ty mkt a ene fine « = [oe | Tinpltt Cost 2s. Oppox ea cost aro Seiouoned ee eg: Feely abi + | Bredieion Most! Bveber “tp tex fy pendihnre. intencd_by.q dul ee | 2 ings rey ld o 5 i gt ta he = pee pS promote ‘fale dhe tomnodihy | Short thin lost Shovt aun is a period a) Ame Shih roioe batho cote fixed andi. Ye _yow! eo | chortmo cost shane hob tomponetit 1) ied (out tibVrabl cot | «Teal foct= Teed fired Cost Tot Viable (oct Te= TFc+ Wwe “Batam 4 Taye Buoys oY ——+ cub pub tind e Vonoby Coss: varfabl tosh the inducer on ty use 9 ROY etnias galavicy 4 ity!_tp the exprndfhine Ioureved by ne facts 6) preducton tasial laben' Zueee Poe ep — o o 7 i wi ae ee 2 Liotta ch )| ce =a a i 3 5 + . 5 zt 28. piece os s R i r i af 38 ait ott i setpol tel} — 4 + Joibally Te Intros ok o_Dnlns biog fe? This s becouse e) —_ js oe facto M4 iso _and Me_fal - — + sf ie in neds 8 || + Sa of joneaves ot no Tneveasiny fain: This bs beaut sting vehome to a faehy- mah” d Mee vases » y he oe mene adelffurad {od Jn is Intuyveds Tt] Tota) fox) + Tal tort sitter fo _tum 4) iil Pied Co and Vovinble Cost» Te Tpe+ THe al ‘Ss Fen assumes || + Tee is tonstant at alll Cevel de tps Tuc_Incveases as oudprel Inevecse Icis povallel_b Te pecause FC Cronstet). Average fost + Avrvaq: Coct is the toc pe’ init a) culps a oO Reduvad SaKsrary talyet hes Te quo {| g : be xed Cost: ‘ts the fixed tod peut output | Pfco= TEC | q I a2 ol fulege Vowabl Cod! Tt isi variable toch pes unit th cupid ! Avc> We Page no [ , —— ee Itt Pec pve pe MO po cr S& 42 we & 8 fo R82 ise Lt + TRE x ps \ cy - See => - yer Duiput —_~— mayafea) Cost “angina ie (ost is the adafHion Fp dol st a Wet ditestho ld ASH nad eg —= i, | BMG? T= Tyas ty svpblns SATO. oe am .= aes. cx op BiterO key rege No. | vohen AC folly A> Me lichen -Ates, Me? Ot Me tuk AC jak Ie\serpotith- _ = Qoth o shaped Bid m7 Tana ee + || Relohon _brhoven. Auevoge Vorfaa (a _tAve) -ond_ Novatel ta Cat) 2 i rotohene Ave falls ved MC mit lo eI 4 me cule ave ab iis lowest bal goin 4. Roth ore U shaped. = ae scaotan bist = Foren s + | Relation _behoeen Tote! _fost_and Maefeal lost t yn 1 |] bohm mC js diminishing, Te foeveases a ] = ||.o4 decreasing acl * 5 on Y 2__|| hen Me is visiny Te toceaca x i od Apercasing volt & lrcis_differnce beboeen Te hon Surtesstve_units N | esd : Page No [— | Chopier= 8 Conuipt (avenue . . ao _¥ x Z > a af Pik seve - 1 Chopis? : — Woducer’s tpuflf burn Producers J predutry Shifter ee ee —_. thre Pet quill rium at the tyvel ef pudput —_—._—J —is_maximised « 7 B mo Brena Poh pe J Noimal okt : mal piokih on ath _atkined ‘asthe sini Swehyin hat jhe —fiodutey expects from his tagi4al ia fovested in siness> _ Nova) frokihs Ox_o_pavt to) Pvenur = Total Cock a Reduuesd —fui.trium ! Mornthal Reverie ite Log Approach? 4 io aN ale _ H] poder sre— me ap prenth.\o Rodu wy “wil be ini qu shen Ane foto cing hoo tondison are saksfied — == : fp arfoal neous = _vovainal Cost = = = ti) Marainal (ost _is afatng Sh d Me tub HR from below: = a = sastary J gtosps) fy Te Te yk ne 8 ae ee : 4 12 =o 1S 12 1S a m2 n } 2% 2 ee 3 = 2 Ss p> wat. 2 1s Vio! rl, No need. ee y ied ae i 9 2 shoo Rite i. c im ato SY bg ¢ Tete Pole £ (ee Iisa: th Si in eromys 2 eee eh Vizoile seat) ‘: | @ [2 Ob we 8 Ohne, Sie 10 ” i: Ss Toe whois 68 ~ eens. a {To 1 fa 100 S| , | y ln naee 118 Wee lie ee fi r vesene. oo) a Salen ie Bypovos sy [pain Niiobte st pom _Maratind Cost Gres | tetas sovioble tock Is the meander covered Me eure + |) pecaute = Mayafnal = (oct 1S “an additional rock, arid || additonal Took ston only be “yoroble toch Tt connect be feed [ot t 4 echapins|ob 3 “0 P Sapply 5 8 hae ap “omandy Ente he ee ie cn = pte Loy Sel ot ____— p—Aifferent

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