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Desire for a commodity
This validates that a want or a desire doesn't develop into a demand except it is supported by the ability and willingness to acquire it. For example, a person may desire to own a scooter though unless he has the required amount of money with him and willingness to spend that amount on purchase of a scooter, his desire will not become a demand.
howw much should the firm produce to maximize its profits
INTERNATIONAL TRADE Definition It is the exchange of goods and services between one country and another. International Trade can be in goods, termed visibles or in servi
Disposable Income This is the income which households actually have available to spend or to save. To calculate disposal income, which is indicated by Ya, the statistician mu
Suppose you have estimated the following demand function for the product you sell: Q = 5 - 0.2P At what price will the demand for your product be unitary elastic? (Hint: B
define scarcity and opportunity cost.Show how these concept are useful in managerial decision making
Question: i) The manager of Top Rock Company is introducing a new product that will yield $200 millions in profits if the economy does not go into recession. However, if a rec
p=10, TC= 1000+2Q+.01Q^2, Q=?
Bain''s limit pricing theory advantages and disadvantages
determination of size of firm
PROBLEMS OF USING PER CAPITA INCOME TO COMPARE STANDARD OF LIVING OVER TIME 1) The composition of output may change. e.g. more defence-related goods may be produced and
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