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Time is a significant determinant of price elasticity. If a price changes, it might take consumers a certain amount of time to discover alternative lifestyles or commodities to account for the price change. For example, if the price of cars enhances, a family that planned to buy a car may wait for their income or wealth to enhances to make buying a new car viable alternative to continuing to drive an older vehicle. In other words, the longer the time frame for the decision to buy the more price elastic the demand for the commodity.
types of market competitions
ADVANTAGES AND DIS ADVANTAGES OF MONOPSONY
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what are the pros and cons of monopsony
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Distinction between Human Capital and Resource and Manpower Health and education are normally considered as human capital. Health includes both physical health and fitness. E
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Suppose we divide Canada into three regions; the west, the centre and the each
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