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Uses of price and income elasticity of demand: The concept of price elasticity of demand has some uses whihc include the following: (i) Pricing of goods and services It is
consumer equilibrium by indiffrence curve approach
Suppose D1 represents the demand curve for paperback novels, D2 represents the demand curve for gasoline,S1 represents the supply curve for paperback novels and S2 represents the s
The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-2.5Py+7.5Pz Where Px is the price of brand X, I is per-capita income, Py IS the price of brand Y, and Pz is th
Suppose scientists discover that eating soybeans prevents cancer and heart disease. What effect would you predict on the price of soybeans?
Reasons for International Trade?
RECENT DEVELOPMENT OF DEMAND THEORY: The basic theory of consumer behaviour discussed in the previous unit can be extended in many directions, and can be applied to cover opt
Aggregate household indebtedness: This is the purchasing power of the sum of money outstanding that households have borrowed and are currently obligated to repay. If household
Deficiency of Vitamin A Deficiency of Vitamin A has been found to impose adverse effects on roughly one third of the children below the age of five around the world. It has also be
Special Drawing Rights: The late 1960s witnessed that the growth in world resources did not keep pace with the growth in international trade. The slackness in the growth of re
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