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Q. Discuss about the factors affecting the Price Elasticity of Demand. a. Availability of Substitute- Availability of close substitute is important determinants of elasticity of demands. The higher the degree of closeness of the substitutes the greater the elasticity of demand for the commodity b. Nature of commodity- The nature of commodity also affects the price elasticity of its demand. Commodities can be grouped or luxuries, comforts, and necessities c. Weightage in the total consumption- The influences of elasticity of demand is the proportion of income which consumers spend on a commodity is large, its demand will be more elastic d. Time factor in adjustment of consumption pattern- Price elasticity of demand depends also on the time consumers need to adjust their consumption pattern to a new price., in larger run greater the price elasticity e. Range of Commodity use- It also influence the price elasticity demand. The wider the range of the uses of a product, the higher the elasticity of demand for the increase in price f. Proportion of Market Supplied- The elasticity of Market demand also depends on the proportion of the market supplied at the ruling price.
What is independent monetary policy Advantages: First, in a freely-floating exchange rate, the exchange rate must move down or up to correct a payments imbalance. Second, monet
How central bank increases the target rate Let's say that the central bank increases the target rate. When the target rate increases, the central bank needs to raise the overni
Q. Overall effect of a change in real wages? The supply of labor The supply of labour L S is assumed to be positively related to the real wage W/P
Q. Explain about Penicillic Acid? This mycotoxin has biological properties similar to patulin. It is produced by a large number of fungi, including many Penicillia as well as m
Have the micro-finance institutions failed in their objectives?
equilibrium in money market and derivation of lm curve
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The cash flows (CF t ) associated with an investment are listed below (assume that each cash flow occurs at the beginning of each year): CF 0 = -200
Would it be more efficient if more firms could produce Vista? Would Microsoft have spent the money to develop Vista if it didn't hold a patent--that is, if once it developed Vista,
1 ) GDP Consumption 240 244 250
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