Explain the no new substitutes for the commodity, Managerial Economics

Assignment Help:

No new substitutes for the commodity

If some new substitutes for a commodity appear in the market, its demand normally declines. This is quite natural, since with the availability of new substitutes some buyers would be attracted towards new products and the demand for the older product will fall albeit price remains unchanged. Therefore, the law of demand operates only when market for a commodity isn't threatened by new substitutes. 


Related Discussions:- Explain the no new substitutes for the commodity

Assignment, analyze the method by which firm can allocate the given adverti...

analyze the method by which firm can allocate the given advertising budget between different media of advertisement

Explain the dilemma of the monetary agent, Problem 1: (a) Distinguish ...

Problem 1: (a) Distinguish between political and partisan monetary cycles on inflation and unemployment rates. (b) In the rule versus discretion literature, explain how dy

1, critically analyze the firm''s theory of profit maxmization

critically analyze the firm''s theory of profit maxmization

Determine the theory of exchange and price theory, Determine the Theory of...

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

Gdp growth, Discuss how the nation's present economic situation may affect ...

Discuss how the nation's present economic situation may affect your business in the next year (your market is the entire US economy).  Contain the following in your analysis. a)

Write about international economic integration, Write about International e...

Write about International economic integration of the Republic of Moldova

Mba assignment, what is the role of managerial economics in running a busin...

what is the role of managerial economics in running a business?

Economic resource , a) The following would most likely shift a production p...

a) The following would most likely shift a production possibilities curve to the right? b) Money should not be considered an economic resource ? c)  Which of the following is

The position of an economic relationship, Using the relationship among the ...

Using the relationship among the price of a visit to a physiotherapist and the quantity of visits demanded, explain and distinguish between the direction, the slope, and the positi

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd