State the specific time of demand, Managerial Economics

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State the Specific Time of demand

Demand should be assigned specific time. For instance, it is an incomplete proclamation to state that demand of air conditioners is 4,000 at the price of Rs. 12,800 each. The statement must be altered to say that demand of air conditioners during summer is 4,000 at the price of Rs. 12,800 each. 


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