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The Stop decay company sells an electric toothbrush for $25. Its sales have averaged 8,000 units per month over the past year. Recently, its closest competitor, Decay fighter, reduced the price of its electric toothbrush from $35 to $30. As a result, stop decay's sales declined by 1,500 units per month.
What is the arc cross elasticity of demand between Stop decay's toothbrush and Decay fighter's toothbrush? What does this indicate about the relationship between the two products?
The market demand for a factor The market demand curve for any input is not simply the horizontal summation of the individual demand curves of all the firms. This is due to th
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40
Explaining balance of payments: First, with the second oil shock of 1979-80 and doubling of India's import bill along with dismal export performance as result of severe
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