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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.
What are the Methods of Managerial Economics The process of managerial economics deals with aspects of economics and tools of analysis, which are employed by business enterpri
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Aside from the price of a product and its substitutes, another significant element of demand for a product is consumer's income. As noticed previously, relationship between demand
Direct Action Direct action in more than one from has been employed by the central banks either as an alternative to their discount rate policy or open market operations or tog
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A. Define inflation. Explain the role of inflation during inflation and deflation. B. Managerial economics is a form of economics for managers do you agrees? explain you comment
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