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"Take a monopolist with a constant average cost. The higher is the elasticity of demand at the chosen monopoly price, the higher is the monopolist's profit-to-revenue ratio." Expla
Regulation is not a panacea. There are troubles with rate regulation. In our litigious society, the legal proceedings contained in rate regulation are not inexpensive for any of
Patricia nominal annual income
identify any four other law of demand and give examples
What is an optimization in the methods of mathematics of modern economics? Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic
The sales of a company are the part of the total sales of industry. If the conditions of industry changes then the sales of each of the firm in the industry is affected. All teh ti
Question 1: Using relevant examples to illustrate your arguments analyze the different economic impacts of tourism and discuss the different ways in which government can maximi
Elasticity of Demand Price elasticity of demand measures percentage change in quantity demanded which results from a 1 % change in price. Price Elasticity
Available resources with the desired goals: To match the available resources with the desired goals: The complementary nature of some investment decisions make for planning. T
Survey Methods: The most direct method of forecasting demand in the short run is survey method. Surveys are conducted to collect information about future purchase plans of the
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