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25. What do you understand by demand function? Explain
Linear demand function
Non-linear demand function
Shift in demand curve
Demand function relates the quantity of commodities in a given economy which consumers buy in consideration of the prices of alternative commodities,prices and levels of income of consumers in...
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EXPLAIN how the product pricing (fee) is determined and DISCUSS the importance of determining the correct fee
What is product pricing? Product pricing refers to the process of translating the product value into quantitative terms.Importance of product pricingProduct pricing offers flexibility which helps to adjust the value...
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If the supply equation is given as Q=-200+10P, the price elasticity of supply between R40 and R50, calculated using the arc elasticity of demand, is?
Arc elasticity of demand is ((Q2 – Q1)/midpoint Q)/((P2 – P1)/midpoint P) Q1=-200+10P = 40, P=24 Q2=-200+10P = 50, P=25 Arc elasticity of demand = ((50-40)/45)/((25-24)/24,5)=5.44
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If the supply equation is given as Qs = -200+10P, the price elasticity of supply between R40 and R50, calculated using the arc elasticity of demand is
If Qs = -200 + 10P, P1 = R40, P2 = R50, Q1 = -200 + 10*40 = 200, Q2 = -200 + 10*50 = 300, then the price elasticity...
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If the supply equation is given as
Qs=-200+10P, the price elasticity of supply between
R25 and R35, calculated using the arc elasticity of demand, is …
1. 0.6
2. 1.8
3. 0.53
4. 3.0
4. 3.0 ((-200+350+200-250)/((-400+600)/2)÷(35-25)/((35+25)/2))
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Using appropriate tables and diagrams,distinguish clearly between demand, individual demand schedule and demand curve, and market demand schedule and market demand curve
Demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given period of time.Individual demand schedule is a set of...
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An increase in the price of electricity will: a. increase the demand for kerosene heaters. b. increase the demand for light bulbs. c. increase the demand for stereos. d. increase the demand for TVs.
Demand is defined as an economic term that refers to a customer's ability to purchase goods and services and the ability to pay a premium for a given commodity or service....
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Demand Review: fill in the <i>blank</i> 3) Demand Curve - graph showing the ______ ______ at each price. 4) Law of Demand - quantity demand of product varies ( intensely/ directly) with price.
3) quantity demanded 4) directly
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The distribution mains are designed for
a) maximum daily demand
b) maximum hourly demand
c) average daily demand
d) maximum hourly demand on maxi
The distribution mains are designed for maximum hourly demand on maximum day
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