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Q. Time Factor for Determinants of Demand?
Price-elasticity of demand depends moreover on the time that consumers take to adjust to a new price: longer the time taken, greater is the elasticity. As every year passes, customers are capable of altering their spending pattern to price changes. For example, if price of bikes falls, demand might not rise instantaneously except people obtain surplus buying capacity. In the end however people can alter their spending pattern so that they may purchase a car at a (new) lower price.
Meaning of Inflation There has been a proliferation of definitions of inflation. Many of these definitions, however, embody the description of the processes by which the underl
Management Decisions: An effective demand forecast assists the management to take suitable steps in factors which are relevant to decision making like plant capacity, raw-material
Disadvantages of Barter Trade It is impossible to barter unless A has what B wants, and A wants what B has. This is called double coincidence of wants and is difficult t
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How relevent is managerial dicretion in developing countries?
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A firm supplied 3000 pens at the rate of Rs 10. Next month, due to a rise of in the price to 22 rs per pen the supply of the firm increases to 5000 pens. Find the elasticity of sup
if Q=120-2p is the equation for demand curve, find the compounding total, marginal and average revenue function
how equilibrium output can be find in williamson model
Contributions of economic theory to business economics According to Baumol, there are 3 key contributions of economic theory to business economics. 1. Practice of building
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