Question: Why does the normal demand curve slope downwards? Can there be an upward rising demand curve? Explain with examples. Q3) Define the production function. State

Why does the normal demand curve slope downwards? Can there be an upward rising demand curve? Explain with examples.

Q3) Define the production function. State and explain the 'Law of Diminishing Marginal Returns'

Q4) Explain the classification of the market on the basis of the degree of competition.

Q5) What is 'Cost-benefit analysis'? Justify its use in the implementation of developmental projects.

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