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A trend line can be fitted through a series graphically. Old values of sales for different areas are plotted on a graph and a free hand curve is drawn passing through as many points as possible. The direction of this free hand curve shows the trend. The main draw bask of this methods is that it may show the trend but not measure it.
WHAT IS A PRODUCTION FUNCTION SCHEDULE?
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
Reasons for International Trade?
What are the three approaches to measuring GDP? The three approaches are: a) The production approach, b) The spending approach and c) The income approach.
why is choice inevitable in the understanding of economics science?
Suppose a firm faces two markets for the same product. In market A, the demand function is PA=60-QA, while in market B the demand function is PB=36-0.5QB. The total cost function i
how the equilibrium output and price is determined in williamson model of managerial discretion?
What are the most important challenges that economists try to address? (ii) What is the role of government in a market based economy? (iii) Who are the main economic players and w
prove that marginal utility of x=the price of commodity x.
What is the classical model's explanation for involuntary unemployment? According to the classical model, involuntary unemployment only increases when there is something impedi
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