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What is an effective need of demand1. An Effective Need: Effective need demands that there must be a need supported by the capacity and readiness to shell out. Henceforth there are three basics of an effective need: a. The individual must have a need to attain a specific product. b. He should have enough funds to pay for that product. c. He must be willing to part with these resources for that commodity.
Question 1. Discuss the practical application of Price elasticity and Income elasticity of demand Question 2. Discuss profit maximizing model in detail Question 3. Descr
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explain in detail ramsey pricing with example?
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