Differentiate between individual and Market demand schedule
Differentiate between individual demand schedule and Market demand schedule in law of demand?
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The basic differences between individual demand schedule and Market demand schedule in law of demand are as follows:
An individual demand schedule:It is a list of quantities of a commodity purchased through an individual consumer at various prices.
Market demand schedule:It refers to the total demand for a commodity through all the consumers. This is the aggregate quantity demanded for a commodity through all the consumers in a market.
Extra revenue by the extra output produced from an additional unit of a resource is the marginal resource: (1) profit to the firm. (2) revenue product. (3) iso-utility curve. (4) resource cost. (5) productive value. Q : Illustrates the factors changes in Illustrates the factors changes in demand?
Illustrates the factors changes in demand?
Explain the different types of income elasticity of demand.
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Explain about leading indices.
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Illustrates the important leading indices?
Illustrates the marginal cost pricing and differential pricing?
Explain the Arc Method of Measurement of Elasticity.
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