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Determine the Cross Elasticity of Demand
Measures the responsiveness of demand for good A to a given change in the price of good B. It is an significant piece of information to a firm as it helps them to predict how much the demand for their product will alter as the price of other goods change.
suppose you have a coffee shop. list of fixed input and variable input for operating the shop
Income and Substitution Effects: Normal Good * The Special Case--The Giffen Good - The income effect may be large enough theoretically to cause the demand c
state 3 major assumptions which a production posibility is based
Using tools of indifference curve, highlight on consumption in business economics.
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THEORY OF DEMAND: The consumer behaviour under indifferencecurve approach where it is assumed that the consumer possesses a utilityfunction. The next most important theory th
Direct Marketing This is a marketing tool designed to elicit instant action from the customer through direct contact.
suppose you have a coffee shop. list of fixed input and variable input for operating the shop. ques-2 describe the condition under in which labour treated as variable cost and whic
7.Consider the following production possibilities table: Option Y X A 0 100 B 80 80 C 120 50 D 140 10 a)Provide a measure of the approximate marginal opportunity cost of
extenstion n contraction of demand curve
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