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JB Hi-Fi limited is a company that is based in Australia. It usually engages in the selling of the home consumer electronic products which include the televisions, video cameras, mobile phones, home theatres, digital still and other electrical accessories like … Full sample
Just Kidding is a company which organizes on-site daycare centers for large enterprises. Just Kidding offers its services to working parents who can seek for an alternative to formal child care because of unsatisfactory conditions, high costs and time-consuming procedures … Full sample
Examples of substitutes of bicycle are; vehicles and motorbikes. When the price of bicycle increase or income increases, most people would go for vehicles and motorbikes (which act as substitutes). When a person devotes his income to given commodity, either … Full sample
Availability of substitutes increases the demand elasticity. When there are many substitutes, prices of a given good decreases. And so there would be high percentage change in the quantity a good demanded (increases) and high percentage change in price (price … Full sample
Elasticity of demand only deals with one good, but Cross-price elasticity deals with two commodities. Income elasticity deals with income and quantity demanded. Elasticity of demand helps to detect how quantity demanded changes when price of a given good changes. … Full sample
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