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Lecture 6 (Market (Concept of regulator (who sell to whom at what…
Lecture 6
Market
Abstract of market
Definition of market
Concept of regulator
who sell to whom at what condition
legal structure of market make by regulator
Market institution
In perfect market
Ideal market
Concept of ideal market
No one take over the others peroperty
Seller get normal profit
No one capture the market
Importance of ideal market as a banchmark
Market near to ideal is good market
Costing in economics
Production cost
Labor cost
Marginal cost
Difference between current and previous cost of product
Average fix cost
Fix + variable + total cost
Good Market
Market strength
Perfect market
Availability of skilled labor and good environment