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Describe the Status goods of law of demand
The law doesn't concern the commodities that function as a 'status symbol', add to the social status or exhibit prosperity and opulence for example gold,precious stones, rare paintings and antiques, etc. Rich people typically purchase such goods as they are very costly.
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2.
Q. What is Marketing Economies? They are allied with selling of the product of the firm. They arise from advertising economies. Because advertising expenses increase less than
What is advertising elasticity? Explain
“Managerial economics involves use of economic analysis to make business decisions involving the best use of a firm’s scarce resources” Explain the statement with suitable example.
Discuss whether Indian Consumer goods industry is growing at the cost of future Profitability.
Explain Managerial economics according to Mote and Paul Haynes, Mote and Paul: "Managerial economics refers to those characteristics of economics and its tools of analysis mos
Strategic Reasons For political or strategic reasons, a country may not wish to be dependent upon imports and so may protect a home industry even if it is inefficient. Many co
Consider an industry with a sole producer, a monopolist. The latter faces cost function C(Q)= Q/2 and aggregate (inverse) demand P(Q)=1 - Q (zero for Q> 1). Illustrate all your ans
Write a detailed note on the planning and development of Management Information Systems
Fall in Supply When the supply falls, the supply curve shifts to the left to position S 1 S 1 . At the initial equilibrium price P 1 , quantity supplied falls from q 1
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