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State the Demand analysis
Analysis of demand is assumed to forecast demand that is a basic component in managerial decision-making. Demand forecasting is of importance since an estimate of future sales is a primer for preparing production schedule and using productive resources. Demand analysis assists the management in identifying factors which influence the demand for the products of a firm. So demand analysis and forecasting is of prime importance to business planning.
Using Total Expenditure for Calculating National Income The expenditure approach centres on the components of final demand which generate production. It thus measures GDP
Types of Price Elasticity of demand a) Perfectly inelastic demand Demand is said to be perfectly inelastic if changes in price have no the quantity demanded so
Explain about the equilibrium in the labor market. Equilibrium into the Labor Market: All of firm will hire labor up to the point at that the value of the marginal product o
POPULATION SIZE AND DEMOGRAPHIC TRENDS a. Changes in Population The people of a country are its consumers. They provide the labour force for production. A study of
Why we need to distinguish between private cost and social cost?
The production function is Q= 20 K0.5 L0.5 Question: For the production function Q= 20 K0.5 L0.5 determine four combinations of capital and labor that will produce 100 and 200 unit
TERMS OF TRADE The relation between the prices of a country's exports and the prices of its imports, represented arithmetically by taking the export index as a percentage of t
The production function of the personal computers for DISK Company is given by Q = 10 KL where Q is the number of computers produced per day, K s the hours of machine time,
Illustrate the application of economic theory to some business problems
Explain baumol''s static model
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