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What is Demand theory:
Demand theory relates to the study of consumer behaviour. It addresses questions like what incites a consumer to buy a particular product, why do consumers cease consuming a commodity, at what price does he/she purchase the product and so on. It also pursues to determine the effect of income, taste and habit of consumers on demand of a commodity and analyses other factors which influence this demand.
ELASTICITY OF DEMAND
Q. Describe Rule based forecasting? Rule based forecasting: Rule-based forecasting (RBF) is a proficient method which incorporates judgment as well as statistical techniques
p=10, TC= 1000+2Q+.01Q^2, Q=?
cvp analysis
ARGUMENTS FOR MONOPOLIES Although monopolies are usually hated mainly because their practice of consumer exploitation, there are some aspects of monopolies which are favourabl
Let consider the economy (above) again where the following set of stocks is traded: x 1 =(2,2,0) x 2 =(1,0,3) x 3 =(0,2,4) for the prices (p 1 , p 2 , p 3 )=(1,
Advantages of Product Differentiation We can distinguish between those advantages for the firm itself and those for the consumer: a. For the firm. i.
what is monotonisty
Investment Investment is the process of increasing the productive capital stock of a country, or can be defined as the production of goods not for immediate consumption. T
CHARACTERISTICS OF MANAGERIAL ECONOMICS 1. Uses theory of firm: Managerial economics uses economic principles and conceptsthat are known as theory of Firm or 'Economics of the
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