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Explain the demand for a commodity
The functional relationship between demand for a commodity and its various determinants may be expressed mathematically in terms of a demand function,
thus:
Dx = f (PX, Py, M, T, A, U) where, Dx = Quantity demanded for commodity X. f = functional relation. PX = the price of commodity X. Py = the price of substitutes and complementary goods. M = the money income of the consumer. T = the taste of the consumer. A = the advertisement effects. U = Unknown variables or influences.
prepare a break-even analysis to determine volume required to cover costs with and without a specified profit target and price.
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Suppose market demand and supply are given by Qd = 100 – 2P and QS = 5 + 3P. If a price floor of $20 is set, what will be the size of the resulting surplus?
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electron control,inc.,cells voltage regulators to other manufacturers , who then customize and distribute the products to quality assurance labs for their sensitive test equipment.
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