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Goods whose consumption has become a habit for the consumer will have inelastic Demand Curve . Total No of Views : 2767 |
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Circular Flow of Income & Product -Phases of Circular Flow It shows the reciprocal relationship between income earned by households and the expenditure by the households on the goods produced by the firms in an economy . |
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Costs - Average Cost Average cost is the unit cost of production of goods and services incurred by the producer |