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Q. Show the uses of income elasticity?
A few significant uses of income elasticity are as follows:
First, concept of income elasticity can be used to approximately compute the potential demand only if rate of rise in income and income elasticity of demand for commodities are identified. Information of income elasticity can therefore be useful in predicting demand, when changes in personal incomes are anticipated, other things remaining the same.
Q. Show the Empirical analysis? Empirical analysis aimed at investigating nature of scale economies, degree of input complementarily orsubstitutability, or the nature and exten
How will you influence people to strive willingly for group objective in your organization (target based industry)? Apply your interpersonal influence through communication process
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1. The price of a U. S. produced hammer is $5. The exchange rate with Malaysia is 3 Ringgit/1$. What is the current price of the hammer in Malaysia? (Assume no transportation cost.
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