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Statistical methods are considered to be superior techniques of demand estimation because:
a. The element of subjectivity in this method is minimum,
b. Methods of estimation is scientific,
c. Estimation is based on the theoretical relationship between the dependents and independents variable ,
d. Estimates are relatively more reliable and
e. Estimation involves smaller cost.
Shor tage A condition under that the quantity demanded for a good or service exceeds the available supply for that good or service. Shortages usually cause a rise in price
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1. Consider the following 2-way ANOVA Table with the group number listed in the cells of the table. Factor B=1 B=2 B=3 B=4
Discuss the impact of rational self-interest on each of the following decisions
Sally recently finished her full-time training and received certification as a nurse’s aid at the end of August. She sent out applications to prospective employers during the last
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discuss whether marginal utility is a realistic piece of economic analysis in explaining consumer demand
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who is a rational behaviour
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