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Definition of Elasticity
Is defined as the ratio of the relative change of one (dependent) variable to changes in another (independent) variable, or it's a percentage change of one variable given a one percent change in another.
Elasticity of Demand
Measures the extent to which the quantity demanded of a good responds to changes in one of the factors affecting demand.
Open Market Operations The Central Bank holds government securities. It can sell some of these, or buy more, on the open market, buying or selling through a stock exchange or
is Indian companies running a risk by not giving attention to cost cutting?
arguments in favour of traditional theory of profit maximization
Estimating economic relationships Managerial economics estimates economic relationships between various business factors likeelasticity of demand, income, profit analysis, cos
In 2006, a hospital with 130 beds had 8,795 admissions. The average length of stay?for every patient was 4.7 days. Assuming full capacity is 100 percent, detremine the occupancy ra
Indifference curves In order to explain indifference curves, we will again make the simplifying assumption that the consumer buys two goods, x and y. The table below gives
Using the CPS data, set the sample to women only and regress lnwage on education & MARRIED (which is 1 if married and 0 if not) and 1-MARRIED. Give a 95 percent confidence interval
neoclassical thinking assumes that all firms are established to make profit has been challenged by managerial discretion model.How successful have been these models to maximize pro
law of demand
Keynes and Mitchell Description According to Keynes description, a trade cycle is characterised by alternating expansionary and contractionary wavy movements in the aggregate
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