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Determinants of the Income Elasticity of the Demand: The determinants of income elasticity of demand are given below: The Degree of necessity of the commodity.
Q. Explain about Demand - Constrained? Demand-Constrained: An economy is demand-constrained when level of output and employment is limited by the amount of overall demand (or s
explain the relationship between scarcity,choice and opportunity cost
Why firm charges different prices to different consumer? Every firm needs to maximize its profit. When goods are sold to different customers, each customer negotiate price of
Lakshani has $5 to spend on pens and pencils. Each pen costs $0.50 and each pencil costs $0.10. She is thinking about buying 6 pens and 20 pencils. The last pen would add five time
Recent developments in demand theory
When a worker is fired orlaid off, they experience a significant out-of-pocket cost. That cost of job loss relies on how much they were earning in their job, how long it takes them
calculate point elasticity of demand function Q=10-2p for decrease in price from Rs3 to Rs2
Demonstrate mathematically that the equilibrium condition MRS PB PA is the equivalent of the utility-maximizing rule MU AP A MU B PB .
AGRICULTURAL GROWTH AND PRODUCTIVITY TRENDS: Despite a steady decline in the share of agriculture in the Gross Domestic Product (GDP) of India, this sector continues to remain
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