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This is a very common methods of forecasting demand. Under this methods a relationship is established between quantity demanded( dependent variable) and independent variables such
Planned Order Releases - MRP System In an MRP system, if gross requirements exceed the quantity on hand and on order, a net requirement results. Planned orders are created to
formula of range
Explain how the price system eliminates a surplus. The meaning of surplus is that quantity demanded is less as compared to the quantity supplied. This will lead to downward pr
discuss the implications of various market structures(competitive and non-competitive)for price determination
What main features are found in oligopolies? Assumptions of oligopoly Four or five firm concentration ratio Frequently there are benefits of scale to be had Merg
Indifference Curves: Every consumption-leisure point, (l; c), in the diagram is associated with a unique level of utility. The line II represents the individuals indifference curv
Explain about the term cost function. Cost Functions This function measures the minimum cost of producing a specified level of output for some fixed factor prices. Likewise
the prevalence of excess capacity is the direct consequence of the existence of monopolistic competition
law of demand..
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