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Derived demand and Demand schedule:
Derived demand is where the demand for a final product leads to the demand for a second product which is used to produce this final product - i.e. if the demand of a product is not for its own sake, but for the manufacture of another product which is in demand. For example, the demand for furniture derives the demand for wood; the demand for petrol derives the demand for crude oil.
Demand schedule is a table or a list of various prices of a commodity and the corresponding quantities that would be purchased at a particular time period, when all other demand factors remain constant. For example, the table below shows the demand schedule for a commodity sold in bags. Column 1 of the Table 1 shows a set of prices of the commodity and column 2 shows the quantities of it that consumers are willing and able to buy at each price.
Price
(c000)
Quantity Demanded
(bags)
1
120
2
100
3
80
4
60
5
40
6
20
7
0
.
When there is a positive expected rate of inflation (i.e., an expected and sustained increase in the levels of all prices), the Benefit Cost Ratio of a proposed project will take o
Ask question how do I find the Price
u=2x^2+3y^2 hence income=310 birr and price=3 birr calculate quntity of x and y the optimize&minmize utilityfor the given income
Cost Push or Supply Inflation: It is a situation where the process of increasing price level is caused by increasing costs of production which push up prices. Cost push infla
concept of risk analysis
Where minimum efficient scale is very huge for capital intensive operations, it may be more cost effective to allow one company to spread its fixed costs over a very huge number of
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The elasticity coefficient is a number measured using price and quantity data to verify how responsive consumers are to changes in the price of a commodity. The elasticity coeffic
Calculate Marginal Revenue
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