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Income Elasticity of Demand is described below: Income elasticity of demand is the percentage change in the quantity demanded/required with respect to the percentage change in
In markets, the invisible hand allocates resources efficiently a. in all cases b. when there are positive externalities, but not when there are negative externalities c. when there
price falls and demand is elstic
what is an iso curve
what is the reason behind studing this topic ?
PEST analysis Political factors: The political factors include laws and regulations in the market and this influences the market activities. These laws and regulations a
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in terms of pr
what is the importance of law of supply
Economies of Common Services: Through the concentration of firms in a particular industry in a given geographical location, the firms may enjoy certain commonservices.These
Factors Shifting Supply Curve -
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