Differences of Production in the Short Run and Long Run at a Company. As we know that every Firm’s Goal is to maximize profit or even bought their aim to the maximize profits. It can be decided by 2 times of frames: Short Run & Long Run. This is important to maintain and generate their company. In a short run, company must remain the production fixed and can’t be changes. Their aim is to decide how many output to produce.100?...

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Let me show you all how Elasticity responsive to Sales Promotion/Offer changes? As we know Elasticity is to measure people responsive to the changes variables. Basically, we know that the 3 common elastic. (Elastic Demand, Inelastic Demand, Unit Elastic Demand). By using a market sales promotion will show us how people respond to it by using the 3 commons elasticity. Firstly, we know that Luxuries Products are expensive and valuable. As a human,...

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MONOPOLY MARKET

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Demand, Supply curve and Price elasticity

Prices of CNY delicacies have increased during this Chinese New Year is attributed to supply side factors and demand curve. During CNY, demand for CNY delicacies & goodies have increased. This causes the demand curve to shift to right. For example, shark fin soup. Consumption of shark fin soup has risen dramatically with the middle class becoming more affluent, as communities around the world enjoy increasing income levels. Moreover, prices of delicacies such as mandarin oranges have increased were up 10% due to bad weather and floods...

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