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Explain the factors which would affect the price of a good.
As there is a very long list of determinants, the basic issue is for the student to describe and illustrate how shifts in demand and/or supply will influence the market price. It is significant that rote-memorised factors are not simply tossed in, but founded on examples. For instance, the price of other goods will affect the price of a good - A fall in the price of DVD rentals might decreasedemand for purchasing DVDs, which could ultimately lower the price of purchasing DVDs.
Ask questA rmuses 4 inputs to produce 1 output. The production function is f (x 1 ; x 2 ; x 3 ; x 4) =minfx 1 ; x 2 g + minfx 3 ; x 4 g.ion #Minimum 100 words accepted#
if the price of labour is 2000 per hour and the price of capital is 1000 per hour.is there an efficiency point of production.
The total demand consists of: 1. New owner demand and 2.A replacement demand The replacement demand tends to grow with the in the total stock with the consumers. Once a pe
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Clearly explain the distinction between supply, demand and equilibrium price.
Q. Level of aggregate demand in economy? Demand-pull inflation takes place when there is an increase in level of aggregate demand in economy. Aggregate demand comprises five co
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