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What is the Significance of cross elasticity in business decision making?
Wiki User
∙ 14y ago
The degree of change in the demand for one product as a response to a change in the price of a different product. For example, an increase in the price of petroleum is likely to have a negative impact on the demand for gas-guzzling vehicles and a positive impact on the demand for fuel-efficient vehicles. The cross elasticity for substitutes is generally positive, in that a price increase for one product will result in an increase in demand for a substitute.
Wiki User
∙ 14y ago
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What role does price elasticity demand play in decision making by business firms?
price elasticity
Significance of managerial economics in decision making?
significance of managerial economics is decesion making
How the analysis of demand contributes to business decision making?
analysis of demand contribute to business decision making
What is the correct priority in making a business decision?
The correct priority in making a business decision is consulting all the major stakeholders.
What are the uses of elasticity of demand for managerial decision making?
It help the management to analyze the change in prise of the products
What role does price elasticity demand play in decision making by business firms?
price elasticity
Significance of managerial economics in decision making?
significance of managerial economics is decesion making
How the analysis of demand contributes to business decision making?
analysis of demand contribute to business decision making
What is swoc analysis explain its relevance to business decision making?
What is SWOC analysis and explain its relevance to business decision making
What is the correct priority in making a business decision?
The correct priority in making a business decision is consulting all the major stakeholders.
What is swoc analysis and explain its relevance to business decision making?
What is SWOC analysis and explain its relevance to business decision making
What are the uses of elasticity of demand for managerial decision making?
It help the management to analyze the change in prise of the products
Models of Decision-making?
decision making is the method which can help you make decision when are starting a business or try to do so.
What are the significance of taking financial decisions in firms?
. Explain the significance of making financial decision by corporate organizations
What are the uses of probability in business decision making?
# Probability is used in business to evaluate financialand decision making risk. # Probability is used to improve business performance.
What is the decision making process in business?
dont no
How do you think good decision making has contributed to the success of this business?
good decision making is what we need because a company is not made by a single person . Its the idea of different people who help in improving a solution and making a good decision for a successful business strategy
