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This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children in a study of the demand for types. In fact it involves distinguish between the total market demand and market segments. Such segments may be derived in terms of income social status sex age male female ration urban rural ration educational level geographic location etc. The segment when qualified can be used an independent variable affecting the demand of the product in question.
For the purposes of economic analysis, a normal profit contains the cost of the lost opportunity of the next best option allocation of the firms resources. In a purely competitive
sources of oligopory
Problem 1: Write short notes on all of the following: (a) Log Linear regression model (b) Lin-Log regression model (c) Individual versus Overall Significance Probl
Change in the population of consumers: Population changes may affect the demand for a commodity.Areas of high population may demand more of certain commodities than areas of low
Returns to Scale Measuring relationship between scale (size) of a firm and output 1. Increasing returns to scale: output more than doubles when all the inputs are doubled
theory of profit
Q. Define Economies of Scale? Economies of Scale: Most economic production requires producing firm or organization to make an initial investment (in real capital, in design and
True public goods are those goods which can't be provided to one group of consumers, without being provided to any other consumers who desire them. Thus they are "non-excludable."
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China had to convert its yuan into dollars. Does that cause the dollar to appreciate or depreciate?
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