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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.
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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 the significance of a 360-degree view in business decision-making processes?
A 360-degree view in business decision-making provides a comprehensive perspective by considering all relevant factors and viewpoints. This helps in making more informed and effective decisions that take into account various aspects of the business, leading to better outcomes and strategic planning.
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 explain its relevance to business decision making?
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 is SWOC analysis and explain its relevance to business decision making
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 uses of elasticity of demand for managerial decision making?
It help the management to analyze the change in prise of the products
What is the decision making process in business?
dont no
What are the significance of taking financial decisions in firms?
. Explain the significance of making financial decision by corporate organizations
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
