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Demand Function The function capturing the dependent relationship between the price people are willing to pay for products or service and other factors related to that product
Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commod
What is the optimal consumption bundle and marginal utility per dollar? The optimal consumption bundle is the consumption bundle which maximizes a consumer's total utility sp
Market Demand Market Demand Curves - A curve which relates the quantity of a good that all the consumers in a market buy to price of that good. Determining Market Demand
1. What is simultaneous biases? Discuss the cause of ednoginity in regression analysis. 2. Explains concisely what is meant by ' the identification problem'' in the context of l
In this section, we ask you to write down a simple, formal, mathematical model. A small number of points will be awarded for an intuitive discussion of the problem, but most of the
Q. Explain about Capacity Utilization? Capacity Utilization: A company or economy's capacity represents maximum amount of output it can produce. Rate of capacity utilization, h
how do oligopolistic market and monopolistic competition react to change in demand and supply ?
a consumer consumes only two goods x and y is in eqillibrium price of x falls explain the reaction of consumer through utility analysis
Socialist Economy: The material means of production are owned by the whole community represented by State under socialist form of economy. All members have equal right in the benef
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