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Statistical methods are considered to be superior techniques of demand estimation because:
a. The element of subjectivity in this method is minimum,
b. Methods of estimation is scientific,
c. Estimation is based on the theoretical relationship between the dependents and independents variable ,
d. Estimates are relatively more reliable and
e. Estimation involves smaller cost.
Type of total outlay
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Why Average Revenue= Marginal Revenue
what is pooling equilibrium
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what is the theory of Second best? Prove the theorem with the help of a diagram.
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