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Price: The price factor is another important variable to be included in demand analysis. Here one has to consider the prices of the product and also its substitute and complements one may also consider the price differences between the product concerned and its substitutes and compliments.
Price as a determinant of the volume of sales of consumer non durable is sometimes more important through cross elasticity ( involving substitute products) than it is directly in terms of price elasticity. Direct price elasticity can expected to be more important with respect to those consumer non durables which are capable of storage and are freeform risks of changes in styles.
Q. What do you meant by Multinational Corporation? Multinational Corporation: A multinational corporation (MNC) is a company that directly undertakes productive facilities or o
If, for a specific project alternative, the discount rate equals the Internal Rate of Return, then the (discounted) Benefit Cost Ratio will equal unity (i.e., BCR=1.0). Define I
Assume that the market for lamb is perfectly competitive. Using an appropriate model (or models) illustrate and explain a. How a competitive market arrives at equilibrium
The market for labor can be studied use a supply and demand framework. The demand for labor is from employers who use labor to produce goods and services. The supply of labor is
can you help me answer an economics question
who propounded the pure international theory of trade?
Use standard indifference curve analysis to demonstrate whether the following statement is true or false. If the objective of government welfare programs is to provide lower inc
Qustions: You are the sales manager at SoftSystem, a dominant firm that produces operating system. The new operating system, Doors XR, has been newly developed. Its demand is e
Market Demand Market Demand Curves - A curve which relates the quantity of a good that all the consumers in a market buy to price of that good. Determining Market Demand
The Money Multiplier is explained below: If you see carefully, the money multiplier is nothing but an inverse of a reserve ratio. Therefore, we can write MM = 1/rr, where rr is
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