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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.
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Before explaining returns to scale it will be instructive to make clear the distinction between change in the scale and changes in factor proportions. The difference between the ch
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Rationale of Group Project Group project allows you to pursue authentic learning with your peers, and to apply theories taught in class and textbooks to real world situations.
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