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Change in consumer Taste/preference:Any change in consumer taste or preference causes demand to change. Increased taste or preference for a particular good causes demand to increase whilst declining taste or preference causes demand to fall, ceteris paribus. Taste or preference for goods and services are influenced by advertisement, fashion and sales promotions. Change in consumer expectationsThe decision to buy a commodity today is influenced by the expected future price of the commodity and expected change in consumer income. If a consumer anticipates the price of a commodity to increase in future, today’s demand for the commodity will increase but if the consumer anticipates a fall in future price, then today’s demand for the commodity will fall.Similarly, an expected consumer income increase may cause demand for a normal commodity to increase and vice versa.
How equilibrium is achieved under monopoly
Effects of weight loss A healthy body is required not only for the sake of health, but also for maintaining the standard frame of a body. A person experiencing the problem of weigh
Assume that the employer (principle) wants its employee (agent) to work hard [You can safely assume that this maximizes the principle's expected profits from his business]. There a
what are he uses of a balance of payement
Why is it considered well to bring all BOP's to zero? If BOP of any country is zero, it reflects that the present account of that country has sufficient balance to meet the n
The reaction of nitrogen dioxide with fluorine 2 NO2 + F2 2 NO2F is first order in NO2 and first order in F2. Complete the rate law for this reaction in the box below. Use the f
hey, I just have a question on how to apply things like ATC and AVC in a problem. im just not too sure about what happens to the quantity of a particular good when asked. this is p
explain two theories of economic rent
explain the managerial decision areas
Suppose that the short-run world demand and supply elasticities for crude oil are -0.076 and 0.088, respectively. The current price per barrel is $30 and the short -run equilibrium
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