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Decrease in Demand
At the initial equilibrium price P1, quantity demanded falls from q1 to qd. But the quantity supplied is still q1 at this price. Hence, this creates excess of supply over demand, and this causes price to fall to a new equilibrium level P2 and quantity to fall to a new equilibrium level q2.
Describe about regression analysis An illustration from the automobile industry is befitting for explaining the forecasting method that uses simple regression analysis. Let's p
Compensatory Financing Two other schemes for alleviating the effects of commodity trade instability have been operating for a number of years. These are the IMF's Compensator
Suppose the consumer can choose either coffee shop 1 or coffee shop 2, but not both. - Assuming that other things (such as location, quality of coffee, and so on) are the same,
define scarcity and oppurtunity cost.show how these concepts are useful in managerial decision making
Explain the limitations of managerial economics
Gross Domestic Product A measure of national economic activity, GDP is measured from two approaches. GDP can be viewed as the total value of all goods and services produced in
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the caseabove.
how equilibrium output can be find in williamson model
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Suppose that in an isoquant mapping, you should consider three isoquants with 1000, 2000 & 3000 units of output. The price of capital is Rs 2 a unit, and the price of labor is Rs 1
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