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Section 21 Partner’s authority in an emergency—A Partner has authority, in an emergency, to do all such acts for the purpose of protecting the firm from loss as would be done by a person of ordinary prudence, in his own case, acting under similar circumstances, and such acts bind the firm
In case of Giffens goods, price effect is
When price elasticity of demand is unity, the total expenditure:
Diamond-water paradox establishes the fact that
The goods whose demand is not tied with the demand for some other goods are said to have
The positive cross elasticity of demand between two products means the two products
Economics of scale means
Shifts in demand curve as shown in the figure below represents
A rightward shift in supply curve indicates
When AR is constant, MR is
In a typical demand schedule, quantity demanded varies
