he government on Wednesday decided to raise petrol prices by Rs 5 per litre and diesel by Rs 3 per litre that will result in freight charges going up. Currently‚ freight charges are about Rs 1.40 per tonne per km with an average of about 450-500 km for a company normally. “The fuel price hike will have a cascading impact on all input costs. Cement prices will be impacted by about Rs 3-4 per 50 kg bag‚ and if we are not able to pass on the hike‚ it will definitely impact our margins‚” said KC Birla
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Price rise is the bane of modern world. Price of essential commodities go on rising every day despite the professed and genuine efforts of the government. The main reason of rising the price as the sky rocket is the im-maturity of the government plan and the unabated raise on the population at the alarming rate. As compared to china and other developed European countries most of the south Asian countries even India had failed miserably in controlling its population. In context of Nepal the
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on the European Energy Market (EEM) • 25-27 May 2011 • Zagreb‚ Croatia Electricity price forecasting – ARIMA model approach Tina Jakaša #1‚ Ivan Andročec #2‚ Petar Sprčić *3 Hrvatska elektroprivreda Ulica grada Vukovara 37‚ Zagreb‚ Croatia 2 # tina.jakasa@hep.hr ivan.androcec@hep.hr 1 * HEP Trade Ulica grada Vukovara 37‚ Zagreb‚ Croatia 2 petar.sprcic@hep.hr Abstract— Electricity price forecasting is becoming more important in everyday business of power utilities. Good forecasting
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MAXIMUM PRICE REGULATION | | | Nguyen Thi Xuan Quynh - 1001584Nguyen Thi Kim Chau - 1001587 | | 24 November 2010 | | | INTRODUCTION There are various types of government policy using only the tools of supply and demand. Price control is one of the tools that policymakers usually apply when the market price of a good or service is unfair to buyers or sellers. In this case‚ the government will intervene to reduce the market’s failure. Economic Intervention has two kinds:
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High Fuel Prices and its Effect on the U.S. Economy ACC 202-02 Managerial Accounting Professor Jackie Lewis North Carolina Wesleyan University High Fuel Prices and its Effect on the U.S. Economy The United States economy as a whole has been rapidly dwindling down of late‚ from its all time high marks in the late 1990’s and early 2000’s. Many Americans believe that the cause for this large downswing in the economy is due to the fact of the cost
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Why does oil prices rise and fall? Of all industries in the world‚ oil industry is indeed an international business which affects most countries in the world. As the oil is the most consumed energy‚ it plays a vital role in daily lives as well as economy and social development. Also‚ the oil industry leads to new technology development both directly and indirectly. It has been deployed as a means for economy and political negotiation. Nevertheless‚ “crude oil” when refined into various petroleum
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Oil Price Analysis: The Impact Of Supply & Demand By Greg McFarlane It’s easy to curse and moan when gas seems expensive. The oil companies are abusing the helpless customers who are effectively indentured to them‚ and can name their own prices thanks to a system of collusion and profiteering. Something‚ probably involving legislation‚ ought to be done. Except the truth lies elsewhere. In the long run‚ oil is about as purely elastic a commodity as there is‚ every movement on the production and consumption
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What can we say about the price elasticity of demand for nicotine products (such as cigarettes‚ pipes‚ tobacco) in the group of nicotine addicted users‚ versus the group of "social smokers"? Price elasticity of demand is defined as the percentage change in quantity demanded divided by the percentage change in price. (Douglas‚ E.‚ (2012) sec. 4.2) The price elasticity of demand is the same for addicted users and social smokers. Smoking is an expensive habit. In Mississippi where I live tax on a
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1. Name two types of market failure. Explain why each may cause market outcomes to be inefficient. Market Power- In some markets‚ a single buyer or seller may be able to control the market prices. Market Power can cause inefficiency because it keeps the price and quantity away from the equilibrium of supply and demand. Externalities- The impact of one person’s actions on the well-being of a bystander. Since buyers and sellers do not consider these side effects when deciding how much to consume
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(i) What is meant by ’cross-price elasticity of demand’? It is a measure of the responsiveness of demand for a good to a change in the price of another good. This good can either be a substitute good or complementary good. (ii) Comment on the cross-price elasticity of demand between platinum and gold. When the price of platinum rises demand for gold rises. Because gold can be a substitute for platinum people will want to buy gold more when the price of platinum increases. (b)
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