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When determining the cost of an item the seller will often analyze the demand as well as the supply before setting the price of the?
Wiki User
∙ 6y ago
When determining the cost of an item, the seller will often analyze the demand as well as the supply before setting the price of the
Wiki User
∙ 6y ago
Antonio Jones
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Why is determining demand elasticity important in economics?
Determining demand elasticity helps managers know how to schedule their goods. When they know their product isn't in demand, they can purchase another product instead.
What are the goals of micro economics?
The goals of micro economics are- 1.To analyze the demand and supply of a commodity or service. 2.To analyze consumer behaviour. 3.To analyze the producer behaviour.
What is one of the major factors determining the level of wages?
The law of supply and demand.
Which of the following is one of the major factors determining the level of wages?
The Law of Supply and Demand.
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
Why is determining demand elasticity important in economics?
Determining demand elasticity helps managers know how to schedule their goods. When they know their product isn't in demand, they can purchase another product instead.
What factors can be considered a determinant to consumer demand?
Supply and Price are the determining factors for Demand.
Importance of demand analysis?
Analysis of demand is a methodology under which we analyze the influences of the determinants of demand on demand itself. It is important because the demand determines the sustainability and expansion of business
What are the goals of micro economics?
The goals of micro economics are- 1.To analyze the demand and supply of a commodity or service. 2.To analyze consumer behaviour. 3.To analyze the producer behaviour.
What is the major factors determining the level of wages?
The law of supply and demand.
What is the major factors of determining the level of wages?
The law of supply and demand.
What is one of the major factors determining the level of wages?
The law of supply and demand.
Which of the following is one of the major factors determining the level of wages?
The Law of Supply and Demand.
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 are the problems faced in determining the demand for a durable good?
The demand for durable goods will increase until saturation. Calculating the demand is daunting. Opening new markets creates even a greater variable for this prediction.
What are the problems faced in determining the demand for a durable goods?
The demand for durable goods will increase until saturation. Calculating the demand is daunting. Opening new markets creates even a greater variable for this prediction.
Most economists use the aggregate demand and aggregate supply model primarily to analyze?
Short-run fluctuations in the economy
