Provision for Setting Up of an Inter State Commerce Commission

question 10

Multiple Choice

Provision for setting up of an Inter State Commerce Commission is given in-

• A)art. 263
• B)art.269
• C)art. 280
• D)art.307

Recognize the importance of sunk costs and how they affect decision-making.

Understand the relevance of fixed and variable costs in product discontinuation decisions.

Apply cost-volume-profit analysis to assess the impact of new products on overall profitability.

Determine the profitability of upgrading versus selling products in their current condition.

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Definitions:

Utility Function

An equation that assigns a level of utility or satisfaction to each bundle of goods, allowing for comparisons of consumer preferences.

Probability

Probability is the measure of the likelihood that an event will occur, quantified as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Diversified Portfolios

Investment strategies involving a mix of assets (stocks, bonds, real estate, etc.) to reduce risk through diversification.

Positive Correlation

A relationship between two variables where they move in the same direction; as one increases, the other also increases.