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Sample Survey and Test Marketing: Under this method some representative households are selected on random basis as samples and their opinion is taken as the generalized opinion. This method is based on the basic assumption that the sample truly represents the population. A variant of sample survey techniques is test marketing . product testing essentially involves placing the product with a number of users for a set period. Their reaction to the product are noted after a period of time and an estimate of likely demand is made from the result.
The End Use Method: In this method the sale of the product under consideration is projecting on the basis of demand survey of the industries using this product and intermediate product. In other words demand for the final product is the end use demand of the intermediate product used in the production of this final product.
Let {(y i * ; x i ); 1 ≤ i ≤ n} be an i.i.d sequence of random variables where y i * and x i satisfy the linear relationship y i * = β 0 + β 1 x i + ∈ i with Cov(x i ; ∈
How does the GPI adjust for increasing U.S. income inequality? Starting with the category of Personal Consumption Expenditures, the GPI adjusts for enhancing income inequality
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Illustrate the content in the rational consumer? Content in the rational consumer: a. How to spend income onto goods and services? b. Why maximizing usefulness? c. Wh
Ask questMicroeconomics Reference No.:- #Minimum 100 words accepted#
how does the concept of possibility production curve aplicable in real life?
if the inverse demand curve is p=120-Qand the marginal cost is constant at 10, how does charging the monopoly a specific tax of 10 per unit affect the monopoly optimum and the welf
Area of Dominant Influence (ADI) The ADI is a geographic area made up of all over the world that receive signals from radio and television stations in a individual market.
Elasticity is a term broadly used in economics to signify the “responsiveness of one variable to changes in to another.” Types of Elasticity can be explained as follows: Th
Environmental pollution may be eloborate as the contamination of the environment, with harmful wastes arising mainly from human activities. All these activities release certain m
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