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Elasticity of Demand
As the law of demand establishes a relationship between quantity demanded and price for a product, it doesn't tell us exactly as how weak or strong the relationship happens to be. This relation, as already discussed is inverse baring some rare exceptions.
1. Prof. Thomas "Generally the term Monopoly is used to cover any effective price control, whether of demand or supply of services or goods; hardly it is used to mean a combination
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Analyse The Method By Which a Firm Can Allocate The Given Advertising Budget Between Different Media Of Advertisement
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