Managerial Economics - Demand Analysis
Significance Of Elasticity Of Demand - Demand Analysis
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The concept of elasticity is useful for the managers for the following decision making activities
Significance
Of Elasticity Of Demand:
The concept of elasticity is useful for the managers for the following decision making activities
1. In production i.e. in deciding the quantity of goods to be produced
2. Price fixation i.e. in fixing the prices not only on the cost basis but also on the basis of prices of related goods.
3. In
distribution i.e. to decide as to where, when, and how much etc.
4. In international trade i.e. what to export, where to export
5. In foreign exchange
6. For nationalizing an industry
7. In public finance
The concept of elasticity is useful for the managers for the following decision making activities
1. In production i.e. in deciding the quantity of goods to be produced
2. Price fixation i.e. in fixing the prices not only on the cost basis but also on the basis of prices of related goods.
4. In international trade i.e. what to export, where to export
5. In foreign exchange
6. For nationalizing an industry
7. In public finance
Tags : Managerial Economics - Demand Analysis
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