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Discuss some of the effects of the economic downturn on supply, demand, inferior goods, complimentary goods, substitute goods, and price. words accepted#
structure of managerial economics
Drafting of Production Policy: Demand forecasts assists in drafting appropriate production policy so that there may not be any space between future demand and supply of a product.
Factors affecting the total market demand These are broadly divided into the determinants of demand and conditions of demand. (a) Own price of the product This
factorsw determining demand
Q. Concept of economies of scale? Economies of scale refers to the cost advantages that a business attains because of expansion. 'Economies of scale' is a long run concept and
PROGRESSIVE TAX A progressive income tax system is one where the higher the income, the greater the proportion paid in taxes. This is effected by dividing the taxpayers' inco
Determine a Specific Price of demand of product A proclamation concerning the demand of a product without mentioning its price is worthless. For instance, to state that demand
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
Define Aunifying and omniscient theme Aunifying and omniscient theme found in managerial economics is the attempt to achieve optimal results from business decisions whereas tak
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