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The Bandwagon Effect
- This is desire to be in style, to have a commodity because almost everyone else has it, or to indulge in it.
- This is major objective of marketing and advertising campaigns (such as toys, clothing). Positive Network Externality: Bandwagon Effect
discuss the implications of various market structures(competitive and non-competitive)for price determination
The demand functions for two related commodities are expressed as follows Q 1 = (12P 2 3/4 ) / (P 1 1/2 ) Q 2 = (24P 1 2 ) / (P 2 3/5 ) Where Q 1 and Q 2 are d
explain slutsky theorm with graphical representation
1. Select a data series that you wish to forecast. Make sure that it has some importance to you relative to business, future occupation or other special interest. Obtain monthly or
What?
Aspects to promote administrative reforms: Following aspects to promote administrative reforms: 1) A closer focus on results in terms of efficiency and effectiveness, and
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case above.
under which market structure does the banking sector fall?
what is traditional economy 2 features of traditional economy
Costs: If raw materials, machines and other things required for production could be made available freely then the study of the theory of the production and indeed, the study of
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