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Measuring Point Elasticity on a Non-linear Demand Curve
Let's now explain the method of measuring point elasticity on a non-linear demand curve. Assume we want to measure the elasticity of demand curve DD' at point P in, let's draw a line (MN) tangent to the demand curve DD' at point P. Because demand curve DD' and the line MN pass through the same point (P) slope of demand curve and that of the line at this point is the same. So the elasticity of demand curve DD' at point P would be equal to the elasticity of demand line, MN, at point P.
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Substitution Effect on law of demand When price of a commodity falls it becomes comparatively cheaper if price of all other related goods, particularly of substitutes, remain c
How has quantitative analysis changed the current scenario in the management world today? Focus must be on the business world specifically in the context of Asian Countries.
when firm can achieve optimization
Ask quesCase Study Electron Control, Inc., sells voltage regulators to other manufacturers, who then customize and distribute the products to quality assurance labs for their sens
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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Milton Friedman makes the demand for money a function of the real per capital permanent income. in this study the demand function for money is stated as; M/NPP= r( YP/NP) δ W
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