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Advertising expenditure must remain the same
If advertising expenditure of a firm increases, consumers may be tempted to buy more of its product. Hence the advertising expenditure on the good under consideration is taken to be constant. Desire of a person to buy a commodity isn't his demand. He should possess adequate resources and should be willing to spend his resources to buy the commodity. Moreover the quantity demanded has always a reference to 'a price' and 'a unity of time'.
Resource allocation in a free enterprise Although there are no central committees organising the allocation of resources, there is supposed to be no chaos but order. The major
a) A change in demand means that: b) On the production-possibilities drawing, unemployment is represented by:
write a note on marris growth maximising model?
Define scarcity and opportunity cost. Show how these concepts are useful in managerial decision making
Define Williamson''s Model of Managerial Discretion practice?
monopoly
Question 1: (a) Briefly explain and distinguish between a centrally planned, laissez-faire and mixed economy. (b) According to you, which kind of economic system is most d
The Budget line and its economic interpretation The indifference curve shows us consumer preferences but it does not show us the situation in the market place. Here the consu
Suppose that the price elasticity of demand for cereal is -0.75 and the cross-price elasticity of demand between cereal and the price of milk is -0.9. If the price of milk rises by
Effects of Fluctuations in Exchange Rates When a country's currency depreciates, exporting firms may have competitive advantage but businesses which rely on imports for raw ma
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