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Change in demand:
change in quantity demanded occurs when the consumption of a commodity increases or decreases as a result a change in the price of the commodity, when all other demand factors remain unchanged. This is shown as a movement along the same demand curve.There are two types of changes in quantity demanded: an increase in quantity demanded and a decrease in quantity demanded. A change in demand, on the other hand, occurs when either more or less quantity of a commodity is now demanded when the own price of the commodity has not changed. A change in demand is normally occurs when there is a change in any of the other demand factors (referred to as demand shifters). It causes a complete shift in demand curve.
Distinguish between interventionist and market-led strategies of development. Explanation of interventionist strategy; heavy government involvement in the planning of output, p
If the price of that cup of teh-tarik has increased in such an amount,economists may not necessarily conclude that the country is going throungh inflation.why is that so?
Exercise on Demand, supply and market equilibrium Given the following determinants of demand and supply, briefly explain, using appropriate diagram, the nature of relationships be
graphic
income=100 price of x=5 price of x2=10 find consumer equilibrium with diagram
Change in consumer Taste/preference: Any change in consumer taste or preference causes demand to change. Increased taste or preference for a particular good causes demand to inc
is it just assumed that a monopoly graph is showing economic profit instead of accounting profit
Second degree price discrimination (two part-tariff) An electric utility in Ontario has the following cost structure: TC = 500 + 20Q Suppose that the market (inverse o
What are the keys of the profit maximisation in production technology? Profit Maximization in production technology: a. Producer Behavior b. Producer’s Optimal Choice
indiffference curve
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