Write short note on Demand
Write short note on Demand?
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Demand is a schedule that shows the various amounts of a product consumers are willing and able to buy at each specific price in a series of possible prices during a specified time period.
1. The schedule shows how much buyers are willing and able to purchase at five possible prices.
2. The market price depends on demand and supply.
3. To be meaningful, the demand schedule must have a period of time associated with it.
Which of the given describes a condition in which a good or service is produced at the lowest probable cost: w) productive efficiency. x) allocative efficiency. y) marginal efficiency. z) profit maximization Please
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David Hume, who said about money such as “Tis none of the wheels of operate. Tis the oil’,” exposed a main error within mercantilism through explaining what is currently considered to as the: (w) quantity theory of money. (x) price l
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Q X= 600- 6PX + 20I +0.4PY c. Suppose PX increases by 10%, by what percentage would sales decrease? Explain how this price increase affect total revenues from good X.
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