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CONTACT--9873368830 (WHATSAPP/CALL) EMAIL Assignmentsmba12@gmail.com Web site www.nmimssolvedassignments.com Business Economics 1. The concept of elasticity for demand is importance for determining the prices of various factors of production. Discuss the various factors that influences the price elasticity of demand (10 Marks) 2. Complete the hypothetical table below and explain in brief, the behaviour of each type of cost. (10 Marks) Quantity Total Fixed Cost Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Total Costa Marginal Cost 0 0 1 25 2 40 3 50 4 60 5 100 80 6 110 7 150 8 300 9 500 10 900 3. Demand forecasting in an organisations plays a vital role in business organisations It provides reasonable data for the organization's capital investment and expansion decision. a. Keeping the above statement in consideration. Discuss the various steps involved in demand forecasting (5 Marks) Discuss the various needs for demand forecasting in business organisations? (5 Marks) CONTACT--9873368830 (WHATSAPP/CALL) EMAIL Assignmentsmba12@gmail.com Web site www.nmimssolvedassignments.com - NMIMS Solved Assignment April 2020 Ongoing
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