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This is a very common methods of forecasting demand. Under this methods a relationship is established between quantity demanded( dependent variable) and independent variables such as income price of the good prices of the related goods etc. Once the relationship is established we derive regression equation assuming relationship to be linear. The equation will independent be of the form Y=A= BX. There could also be a curvy linear relationship between dependent and independent variable . once the regression equation is derived the value of y i, e, quantity demanded can be estimated for any given value of X.
The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-2.5Py+7.5Pz Where Px is the price of brand X, I is per-capita income, Py IS the price of brand Y, and Pz is th
#• The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan
Determinants of the price elasticity of demand are explained below: 1. Number of close substitutes present within the market - The more and closer substitutes available in the
Structure of the IMF: The Central office of the IMF is in Washington DC, USA. It has 184 members. It is affiliated to the UNO. The highest authority of the IMF is the Board of
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Calculate Marginal Revenue
explain the main criteria for classifying firms into industries.which criteria serve the better and why?
what are the criticisms of modern theory of rent?
Q. Define Debt? Debt:Total amount of money owed by a company, individual or other organization to banks or other lenders is their debt. It represents accumulated total of past
please can you explainn what "down 0.1 percentage point on the quarter means"?
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