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Survey Methods: The most direct method of forecasting demand in the short run is survey method. Surveys are conducted to collect information about future purchase plans of the probable buyers of the product. Survey methods include.
Complete Enumeration Survey: Under the complete Enumeration Survey the firm has to go for a door to door survey for the forecast period by contacting all the households in the area.
Is the natural rate of unemployment includes frictional, structural & seasonal unemployment? The natural rate of unemployment contains frictional, structural & seasonal unempl
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
Around 2007, the world copper price was $2.00 per pound and 12 million metric tons per year was the quantity transacted. A) Assume copper’s demand elasticity is -.5 and supply elas
Selecting Output in Short Run * We will combine production and cost analysis with demand to determine output and profitability. A Competitive Firm Making Positive Profit
how slustky equation provides neat analytical expression for substitution and income effect?
would a rational producer be concerned with the average or marginal product of an input in dec
Q. Perfect Competition in neoclassical economics? Perfect Competition: An abstract assumption, central to neoclassical economics, in that companies are so small that none can i
Optimum currency area: An optimum currency area (OCA), also known as an optimal currency region (OCR), is a geographical region in which it would maximize economic efficiency
What is the impact of microeconomics on economy?
The accountants keep all the business transactions and records of a sole proprietorship separate from the business owner''s personal transactions and For legal purposes a sole prop
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