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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.
Cardinal Theory: An Introduction In cardinal approach, utility is measured cardinally or numerically in terms of money. The consumer not only knows which one is preferred but
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Jane receives utility from days spent travelling on vacation domestically(D) and days
How does production possibility curve help solve central problems?
Measuring the Economic Value of Education A review of research works regarding the economic value of education shows that it developed in four different directions. They a
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