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Determine the Theory of Exchange and Price Theory
Theory of Exchange is commonly called Price Theory. Price determination under various types of market conditions comes under thewingspan of this theory. It assist in determining the level to which an advertisement can be used to boost market sales of a firm. Price theory is essential in determining the price policy of a firm. Pricing is asignificant area in managerial economics. Accuracy of pricing decisions is vital in shaping the success of an enterprise. Price policy impresses upon the demand of products. It includes the determination of prices under various market conditions, pricing policies, pricing methods, differential pricing, price forecasting andproduct line pricing.
What is the demand function It should be noted that by demand function, economists mean entire functional relationship which is the whole range of price-quantity relationship a
Determine the law of Demand Curve The law of demand can also be presented through a curve known as demand curve. Demand curve is a locus of points showing numerous alterative p
Stable and Unstable Equilibrium An equilibrium is said to be stable equilibrium when economic forces tend to push the market towards it. In other words, any divergence from t
Question: i) If X and Y are different processes producing the same commodity and the joint total cost (TC) is given by: TC = X 2 + 2Y 2 - 3XY Using Lagrange Multiplier,
summary of principle of time perspective?
REASONS FOR FLUCTUATIONS IN AGRICULTURAL PRICES Production depends on factors beyond the control of the producers e.g. weather, disease and pests. Actual and planned output i
1. The price of a U. S. produced hammer is $5. The exchange rate with Malaysia is 3 Ringgit/1$. What is the current price of the hammer in Malaysia? (Assume no transportation cost.
Marginal Utility The extra utility derived from the consumption of one more unit of a good, the consumption of all other goods remaining unchanged. The hypothesis of dimin
The Current Account This records all transactions involving the exchange of currently produced goods and services and is subdivided into i. Visibles: A record
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