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Concept of utility

Concept of utility Jevon (1835-1882) was the first economist who introduces the concept of utility in economics. According to him: “Utility is the basis on which the demand of an …

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Inelastic Supply

If the amount offered for sale is less affected by change, then the supply is said to be inelastic. Categories/Types of the Price elasticity of Supply: Definition and Explanation: There …

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