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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.
Features of Planned Economy The command economies relies exclusively on the state. The government will decide what is made, how it is made, how much is made and how distribut
The aim of monopolist is to maximise profit therefore; he would produce that level of output and charge that price which gives him maximum profits. He would be in equilibrium at th
what is equi marginal concepts?
ISOQUANT ANALYSIS In the long run it is possible for a firm to produce the same output using different combinations of two factors of production. For instance it the two fact
explain the cyert and march theory of firm
Methods which rely on quantitative data: Rule-based forecasting Data mining Quantitative analogies Discrete event simulation Neural networks Extrapo
Q. What is Production Isoquant? An isoquant demonstrates all those combinations of factors that produce the same level of output. An isoquant is also called as equal product cu
Fandem Technology manufactures two products using a joint process. The cost of materials going into the joint process for a typical period is $55,000, while labour and overhead to
Consider a magnetic disk consisting of 16 heads and 400 cylinders. This disk is divided into four 100-cylinder zones with the cylinders in different zones containing 160, 200, 240,
what are the limitation of managerial economics and what is the solution of it?
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