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1. Seller has ample time to adjust to price change.
2. Buyer's response to small price change is significant.
3. Buyers are faced with many options when deciding to make a purchase.
4. Sellers do not have much time to adjust to price change.
5. Buyers consider this item to be a necessity.
a. Elastic demand
b. Inelastic demand
c. Inelastic supply
d. Elastic supply
Given that TC=1000+10Q-0.9Q^2+0.04Q^3,,Find the rate of output Q that result in minimum Average variable cost
What is use of analytical tools in the modern economics? Analytical Tools: Modern economics also gives different powerful analytical tools which are usually specified by geo
my assignment is about richardian model and wanna ask you about few questions
regression line drawn as Y=c+1075x, when x was 2 and y was 239, given that y intercept was 11. calculate the residual
Reasons for International Trade?
Structural Unemployment: This is unemployment resulting from changes in the pattern of demand for goods and services or changes in technology.These changes may in turn alter
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Once the organization has decided to move forward with the development of a new or modified system, it is time to determine what tasks are necessary to move the project from initia
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in terms of pr
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