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Determine the concept of Law of demandWe have considered numerous factors which fashion the demand for a commodity. As explained the first and most important factor which determines the demand of a commodity is its price. If allother factors (noted above) remain constant, it can be said that as price of a commodity increases, its demand decreases and as price of a commodity decreases its demand increases. This is a universal behaviour observed in a market. This gives us the law of demand: "The demand for a commodity increases with a fall in its price and decreases with a rise in its price, other things remaining the same". The law of demand therefore merely states that price and demand of a commodity are inversely related, provided all other things remain unchanged or as economists put it ceteris paribus.
in the context of oligopoly theory explain the channels via which either a cost reduction or a quantity increase influence a supplier''s profitability
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The Barcelona Football Club is considering the signing of a player of international fame. The problem is that the player has a reputation for having a weak knee. The probability th
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explain the cyert and march theory of firm
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