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Illustrate about Demand theory
Demand theory is one of the core theories of consumer behaviour andmicroeconomics. It attempts at answering questions regarding the magnitude of demand for a product or service based on its importance to human wants. It also tries to assess how demand is impacted by changes in prices and income levels and consumers preferences/utility. Based on the perceived utility of services and goods to consumers, companies are able to adjust supply available and the prices charged.
Q. Example on Relationship between marginal and average cost? This relationship between marginal and average cost can easily be recalled with the aid of Fig. below. It can be s
How Income level must remain constant - law of demand The law of demand operates only when income level of the buyer remains constant. If income rises when the price of commod
What is economics of information
Q. What is Right Angled Isoquant? This presumes zero substitutability of factors of production. There is just one method of producing any one commodity. In this case, isoquant
THE STRUCTURE OF POPULATION AND SUPPLY OF LABOUR The structure (also called age distribution or composition) of population, or the number of people in the different age groups
assignment help on demand forecasting
Why do the managers in marris model maximise their satisfaction by choosing a higher growth rate and a lower valuation ratio when compared to the profit maximisation
break event point
Objectives of IMF To achieve these objectives, the following conditions would have to be fulfilled: - i. Countries should not impose restrictions in their trade
Gross Domestic Product A measure of national economic activity, GDP is measured from two approaches. GDP can be viewed as the total value of all goods and services produced in
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