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Using commodities as an example, explain the factors influencing the PES for such goods.
The basic determinants of PES are time span included and the availability of producer substitutes.
Both of these help to outline commodities as having low PES.
Expected Value - The weighted average of payoffs or values resulting from all the possible outcomes. The probabilities of every outcome are used as weights Expected
managerial problems related to microeconomics
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if marginal cost descreases then what else is effected by this
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