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Situation is where a luxury is there. There is the snob appeal possibility where the higher the price, the more desired the commodity it. Often people will drive expensive cars, easily because of the image it makes. If the car is extremely expensive, i.e., Rolls Royce, the snob effect may be the primary motivation for the purchase. This also works with less costly commodities. For example, Joy Perfume advertised itself as the world's most costly to attract consumers that their marketing surveys shown would respond to the snob effect.
Determinants of Private Demand for Education Rates of return on investment in education is only one of the factors determining the demand for private investment though it is
Isomers are two or more forms of compounds which having the same compositions. Types of isomers (a) Stereo isomers (b) Structural isomers
Elasticity- a) The price of good X goes up by 2.75%, the quantity demanded of good Y goes from 10,500 units to 25,000. What is the Exy? What does that number mean? What is th
Wealth: This is a stock of accumulated purchasing power stored up from the past. For example, if you have a fat savings account accumulated from your past earnings, your curre
Why concept of Elasticity is important in economics? Elasticity is very important concept in economics because it affects the decision of individuals as well as of the whole e
Comparison of sameulson revealed preference theory with the Hicksian revealed preference theoru
Shifts in Supply and Demand When supply and demand vary at the same time, the impact on the equilibrium price and quantity is known by: 1. The shape of the supply and dema
using necessary and sufficient condition explain consumer surplus diagrammically and mathematically?
isoquants curve shows
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