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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 inc
regis is hungry for a snack. Here is the value he place on a cupcake: value of the first cupcake$5, value of the second cupcake $4, value of the third cupcake $3, and the value of
why risk averse consumers pay premium for insurance to convert an uncertain outcome to a certain one?
technological advance reduced the cost of computer chips . explain using the demand and supply diagrams , how the the following markkets are affected in terms of price and quantiti
Suppose an economy has four sectors, Agriculture (A), Energy (E), Manufacturing (M), and Transportation (T). Sector A sells 10% of its output to E and 25% to M and retains the rest
define statistics in plural and singular sense
write down the assumotions and importance of game theory
Price: The price factor is another important variable to be included in demand analysis. Here one has to consider the prices of the product and also its substitute and complement
the general characterictics of economic models,its limitations and verification
What are the different pricing practices?
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